§ I also propose to raise the duty on hydrocarbon oils by 4d. a gallon from 6 o'clock this evening. This will apply to light oils, mainly petrol, and to diesel oils used as fuel in road vehicles, but the duty on heavy oils not used on the roads will remain unchanged at 2.2d. a gallon. The increased duty will yield an additional £76 million a year. I shall include a provision in the Finance Bill to enable the bus fuel grants paid to bus operators to be raised to cover the extra duty paid by them. This will cost £3 million a year and will require a Money Resolution.
§ My proposals so far yield an additional £151 million for a full year and in 1968–69. This is a start, but there is still a very long way to go.