Industry and Exports (Financial Support) Bill

Just on the subject of VAT, is my hon. Friend aware that, like so many firms, John Lewis recently said that the reduction in VAT—coming down from 17.5 to 15 per cent., it was so costly to the taxpayer—has made no difference whatever to overall sales? In any case, on 1 January, it is going to go back up again, although we also have to ask, back up to what: will it go back to 17.5 per cent. or will it go up still higher?