§ Sir John Cope
Information on the outturn yield in 1991–92 and the projected yield in 1992–93 is provided in the table:
1991–92 Outturn £ billion 1992–93 Forecast £ billion Petrol duty 8.0 8.3 DERV duty 2.8 2.8 Vehicle excise duty 2.9 3.2 VAT on petrol and derv 1.6 n.a. VAT on vehicles sales 2.7 n.a. Car tax 1.2 0.5
No direct figures are available for the VAT spent on petrol and DERV and on vehicle sales. The table contains estimates of the outturn on total VAT yield that can be attributed to these items on the basis of national accounts data on expenditure. For petrol and DERV the VAT estimate covers only consumers? expenditure—the yield from business expenditure is highly uncertain because the majority of businesses can reclaim the VAT paid as input tax. The relevant data are not available for 1992–93.
The 1992–93 forecasts for car tax have been revised to take account of abolition of the tax in November 1992.