§ Mr. MARTIN
asked the Chancellor of the Exchequer what is the ad valorem equivalent on import values of the new tax on fuel and gas oil?
§ Mr. HORE-BELISHA
Taking the average c.i.f. values of imported fuel oil and gas oil as declared by the importers during the first six months of 1933, the ad valorem equivalents are approximately 50 per cent. and 40 per cent., but I would point out that if the prices to consumers are taken, the percentages, based on prices in force before the Budget work out substantially below 40 per cent. and 30 per cent. respectively.