European VAT Rates - Thoroughbred Breeding Industry

EDM number 822 in 1990-91, proposed by Alan Meale on 09/05/1991.

That this House notes that the threat posed to Britain's multi-million pound thoroughbred breeding industry by differential value-added tax rates after 1992 will have receded temporarily by the intervention on 8th May of the European Commission in Brussels when it announced that it will be illegal for any EEC member state to charge unfair low rates of tax on bloodstock transactions after 1992; recognises that the situation whereby Ireland and France have, respectively, been able to charge rates of two point three per cent. and five point five per cent. was grossly unfair to British breeders; and hopes that now the problem has been exposed the EEC and its member nations will at last sit down and collectively work out a common and fair European rate which does not place impossible burdens on this valuable industry.

This motion has been signed by a total of 16 MPs.