questionText: To ask the Chancellor of the Exchequer, with reference to to clause 32 in the Windsor Framework relating to VAT and excise, what assessment she has made of the potential merits of reducing the VAT rate in Northern Ireland.
answerText: VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies consistently across the UK to most goods and services. VAT is the UK’s second largest tax, forecast to raise £180 billion in 2025/26. Exceptions to the standard rate have a...
heading: VAT: Northern Ireland