HC Deb 14 April 1964 vol 693 c240

First, we have agreed, as part of the obligations to our partners in the European Free Trade Association, to abolish the present arrangements by which a lower duty is charged on indigenous light oils than on similar imported oils. Consequently, the House was informed on 26th March, 1962, that the Government intended to withdraw this preference not later than 1964.

I propose, therefore, to level up the duty which at present is 1s. 6d. a gallon on indigenous light oils, to the 2s. 9d. rate applicable to imports from E.F.T.A. and other countries. This change will take effect from 1st January next. It will bring in an additional revenue of £1¾ million in this financial year and £7½, million in a full year.