§ Mr. McLeavy
asked the Secretary to the Treasury the estimated yield for a full financial year of the hydrocarbon oil duties at a rate of tax of 2s. 6d. per gallon; and what the tax would work out per gallon if the estimated yield was spread over the whole field of users of such oils.
§ Mr. Simon
My right hon. Friend, the Member for Monmouth (Mr. P. Thorneycroft) estimated at the time of his Budget on 9th April, 1957, that, at the rates of duty he then introduced—viz., 2s. 6d. a gallon for imported oils and is. 3d. for indigenous oils—and allowing for the higher rates previously in force, the yield of the hydrocarbon oil duties in the present financial year would amount to £340 million. Spread over the total quantity of hydrocarbon oils expected to he delivered for use in this country in the same period, this amount would represent about 1s. 1d. a gallon.