Petrol and Tobacco Taxation

HC Deb 03 July 1975 vol 894 cc517-8W

Mr. Skeet

asked the Chancellor of the Exchequer, in the event of petrol reaching £1 a gallon by early 1976, if he will consider substantially reducing the tax on the petroleum product.

Mr. Robert Sheldon

All tax rates are kept under review, but I cannot commit myself to any possible future course of action.

Mr. Steen

asked the Chancellor of the Exchequer how much revenue the Government receive in taxation on tobacco and petrol each week or during any other convenient period.

Mr. Robert Sheldon

It is estimated that receipts of duty and VAT currently average about £36 million a week on tobacco and about £28 million a week on petrol.