§ Mr. LuffTo ask the Chancellor of the Exchequer what plans he has to review the impact of excise duty on smaller brewers.
§ Sir John CopeThe position of smaller brewers was considered during the pre-Budget review of indirect taxation, but my right hon. Friend the Chancellor of the Exchequer decided to make no change. However, small brewers should benefit from the forthcoming change in the method of taxing beer. The present wastage allowance, which often does not cover all their production losses, will be abolished, and they will pay duty only on the beer they actually despatch for sale. The Government have no present plans for a further review.
Sterling's percentage deviation from its central rates against the other ERM currencies Deutschmark Dutch Guilder Belgian/Luxembourg Franc Danish Krone Irish Punt October 1990 0.74 0.78 0.54 0.77 0.64 November -1.07 -0.96 -1.04 -0.58 -0.99 December -2.40 -2.26 -2.06 -1.38 -1.77 January 1991 -1.10 -1.04 -1.19 -0.16 -0.70 February -1.40 -1.38 -1.59 -0.54 -0.84 March -0.65 -0.61 -0.77 -0.02 -0.12 April 1.02 1.01 0.46 1.38 1.17 May 0.47 0.46 -0.21 0.79 0.55 June -0.36 -0.36 -0.47 0.64 -0.20 July -0.12 -0.14 -0.32 1.24 0.03 August -0.48 -0.46 -0.67 0.88 -0.29 September -0.79 -0.78 -0.92 0.41 -0.58 October -1.33 -1.32 -1.50 -0.09 -1.15 November -2.19 -2.17 -2.31 -0.42 -1.88 December -3.13 -3.11 -3.24 -1.17 -2.58 January 1992 -3.19 -3.23 -3.34 -1.50 -2.58 February -2.47 -2.58 -2.68 -0.89 -2.10 March -2.90 -2.99 -3.12 -1.24 -2.49 April -1.85 -1.94 -2.09 -0.24 -1.36 May -0.50 -0.59 -0.71 0.74 -0.22
Sterling's percentage deviation from its central rates against the other ERM currencies Spanish Peseta Portuguese Escudo Italian Lire French Franc 1990 October -2.74 — 0.85 0.59 November -3.67 — -0.58 -0.67 December -4.08 — -1.64 -1.16 1991 January -4.04 — -0.62 0.18