§ Mr. Dorrell
asked the Chancellor of the Exchequer if he will publish his estimate of the revenue effect of revalorising all specific duties in line with inflation for 1981–82 and 1982–83.
§ Mr. Bruce-Gardyne
[pursuant to his reply, 11 February 1982, c. 475]: It is estimated that at 1981–82 volumes of consumption
- (a) revalorising the current specific rates of excise duties in line with the change in the index of retail prices between December 1980 and December 1981 would yield about £1,200 million in a full year.
- (b) changing the current specific rates of excise to those in the Finance Act 1980 revalorising in line with changes in the index of retail prices between December 1979 and December 1981 would reduce the revenue by about £100 million in a full year.
It would be contrary to practice to give estimates for 1982–83 before the Budget.