Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the total VAT receipts contained in the (a) March and (b) November 2021 budget for each financial year for the remaining parliamentary term.

The Office for Budget Responsibility published Economic and fiscal outlook reports in March 2021 and October 2021. The March publication contained a VAT forecast up to and including the year 2025-26. The October publication contained a VAT forecast up to and including the year 2026-27.

The March publication set out that VAT receipts are forecast to be £127.9 billion in 2021-22, £145.6 billion in 2022-23, £149.7 billion in 2023-24, £155.1 billion in 2024-25, and £159.2 billion in 2025-26.

The October publication set out that VAT receipts are forecast to be £131.9 billion in 2021-22, £155.0 billion in 2022-23, £159.1 billion in 2023-24, £163.1 billion in 2024-25, £167.4 billion in 2025-26, and £172.1 billion in 2026-27.