§ Mr. Arthur Lewisasked the Chancellor of the Exchequer when he expects the total inclusive tax burden now in operation to fall to the level or below that which was in operation in May 1979.
§ Mr. Peter ReesThe burden of taxation overall depends on many factors. The major aim of the230W Government is to bring about a continuing reduction in the rate of inflation and to create conditions for a substantial growth of output and employment. This approach is set out in our medium-term financial strategy, which appears in part II of the Financial Statement and Budget Report 1981–82. As this strategy succeeds, so it will be possible to reduce the burden of taxation.
§ Mr. Arthur Lewisasked the Chancellor of the Exchequer whether he will publish in the Official Report a detailed list of the direct and indirect taxes which have been increased since May 1979; and to what extent the total revenue per annum had resulted from these increased taxes.
§ Mr. Peter ReesThe taxes that have been increased are:
- Petroleum revenue tax
- Value added tax
- Excise duties on:
- Hydrocarbon oil
- Tobacco
- Spirits
- Beer
- Wine
- Made-wine
- Cider and perry
- Matches
- Mechanical lighters
- Gaming licences
- Gaming machine licences
- Bingo
- Vehicle excise duty.
In the financial year 1978–79 net receipts from these taxes were about £13,500 million, 33 per cent. of total tax revenue.
§ Mr. Craigenasked the Chancellor of the Exchequer if he will show for each of the years 1976–77 to 1979–80, and estimate for 1980–81, the yield at constant prices and as a percentage of the gross domestic product of each of income tax, surtax, corporation tax, value added tax, employee's national insurance contributions, employer's national insurance contributions, capital gains tax, development land tax, capital transfer tax, petroleum revenue tax, stamp duty, excise duty and estate duty.
§ Mr. Peter ReesI shall let the hon. Member have a reply as soon as possible.