§ 37. Mr. Boyden
asked the Chancellor of the Exchequer what is his estimate of the loss to the revenue through tax frauds by jewellery firms selling as second-hand jewellery which was new; and how much Purchase Tax has now been recovered from these firms.
§ The Economic Secretary to the Treasury (Mr. Edward du Cann)
As indicated in paragraph 100 of the Third Report from the Committee of Public Accounts, Session 1961–62, no firm estimate of the loss to the Revenue through these frauds can be given. The answer to the second part of the Question is about £345,000.
§ Mr. Boyden
This is about £250,000 less than the Public Accounts Committee expected would be recovered. Has the hon. Gentleman been able to take steps to prevent this kind of fraud in other spheres? Obviously he cannot disclose the methods adopted, but has he been able to do anything in a general way?
§ Mr. du Cann
There is a good deal of money to be recovered, about £250,000 or so. In answer to the second part of his supplementary question, I can assure the hon. Gentleman that the situation is being carefully and closely watched.