§ 18. Sir G. Nabarro
asked the Chancellor of the Exchequer what is his estimate of the loss of revenue arising from total cancellation of the remainder of selective employment tax from 21st March, 1972, to 31st March, 1973, with the introduction of value-added tax on 1st April, 1973; and to help reduce unemployment and prevent further inflation following settlement of the miners' pay claim whether he will now make a statement on his proposals in this field.
§ Mr. Maurice Macmillan
The net yield of S.E.T. in the 12 months of 1972–73 is estimated at £250 million and the yield of the last contribution week in 1971–72 is estimated at £5 million. As regards the second part of the Question, my hon. Friend will not expect me to anticipate the Budget Statement.