§ 66. Mr. Cockeram
asked the Chancellor of the Exchequer if he will set out the net receipts from selective employment tax and purchase tax, respectively and combined, during the years 1969–70, 1970–71 and 1971–72, giving in each case the percentage the figure would represent of the estimated yield from value-added tax in a full year.
§ Mr. Higgins
Following is the information:
RECEIPTS OF SELECTIVE EMPLOYMENT TAX AND PURCHASE TAX £ million Year S.E.T. (net) from private sector and public corporations Purchase Tax Total 1969–70 527 1,111 1,638 1970–71 501 1,270 1,771 1971–72 222 1,429 1,651
The estimate of the net receipts in a full year from the value added tax proposed for 1973–74—excluding purchases by central Government and sales of 67W tobacco products, spirits, beer, wine, British wine, matches and mechanical lighters—is given in the Financial Statement as £1,475 million. No estimates are available for the hypothetical yield in earlier years.