Written Questions are submitted by MPs or Lords to receive information from a Department.
|5 Feb 2019, 4:30 p.m.||Sir Christopher Chope MP (Conservative - Christchurch)||Sir Christopher Chope MP (Conservative - Christchurch)|
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the amount of money accrued to the public purse from VAT in 2018-19; and what proportion of that amount will be payable to the European Union.
Answered by Mel Stride
The Office for Budgetary Responsibility (OBR) has forecast, in its Economic and Fiscal Outlook- October 2018, that the UK will collect £132.2 billion in revenue from VAT in 2018-19.
The UK does not transfer VAT receipts to the EU, and so will not do so after withdrawal from the EU.
Details on our payments to the EU can be found in the White Paper on ‘European Union Finances’ which is published annually and is available online.