§ Mr. Meacherasked the Chancellor of the Exchequer what has been the level of real demand in the economy each year since 1960; and what was the growth rate in each of those years.
Year Royalty Supplementary petroleum duty Petroleum revenue tax Corporation tax £ million Gas levy Total before ACT set-off ACT set-off Main stream CT Total government revenues from United Kingdom oil and gas production 1973–74 12 — — 3 — 3 15 — 1974–75 15 — — 5 — 5 20 — 1975–76 20 — — 5 — 5 25 — 1976–77 71 — — 10 — 10 81 — 1977–78 228 — — 10 — 10 238 — 1978–79 289 — 183 93 40 53 565 — 1979–80 628 — 1,435 248 78 170 2,311 — 1980–81 992 — 2,410 333 97 236 3,735 — 1981–82 1,396 2,025 2,390 680 270 410 6,491 383 1982–83 1,632 2,395 3,274 513 202 311 7,814 471 1983–84 1,904 — 6,017 861 428 433 8,782 522 1984–85 2,426 — 7,177 2,399 1,242 1,157 12,002 500 *1985–86 2,500 — 8,200 2,800 1,200 1,600 13,500 520 * Forecast: as published in the 1985–86 Financial Statement and Budget Report. Forecasts of total Government revenues from United Kingdom oil and gas production for each financial year up to 1988–89 were published in table 2.3 of the 1985–86 "Financial Statement and Budget Report" and for a longer-term projection on specified assumptions, I refer the hon. Member to table A.10 of the Green Paper "The Next Ten Years: Public Expenditure and Taxation into the 1990s" (Cmnd 9189).
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§ Mr. MacGregor[pursuant to his reply, 11 November 1985, c. 69]: Figures for the level of real demand in the economy (interpreted as final expenditure on goods and services at 1980 market prices) are as follows for the years 1960 to 1962:
£ million 1960 170,859 1961 175,364 1962 177,515 Figures for subsequent years are published in table 1.5 in the 1985 edition of the CSO publication "United Kingdom National Accounts". The growth rates requested may be readily derived using this information.