§ Lord Barnettasked Her Majesty's Government:
How much revenue has been raised from the windfall tax; how much has been actually spent by 31 March 1998; and how much expenditure has been committed. [HL2543]
§ Lord McIntosh of HaringeyThe Windfall Tax is expected to raise £5.2 billion, of which £2.6 billion was raised in the first instalment. £143 million is estimated to have been spent in 1997–98. £4.9 billion of the Windfall Tax has been allocated to particular programmes, with £0.3 billion unallocated at this stage. Further details of the allocation of this spending in future years were set out in the Financial Statement and Budget Report, March 1998.