§ Mr. Shinwellasked the Financial Secretary to the Treasury what is the estimated loss to the revenue through the production of hydrocarbon oils in the United Kingdom in the current year?
§ Lieut.-Colonel ColvilleThe production in the United Kingdom, from indigenous materials, of hydrocarbon oils of kinds which if imported would be subject to a duty of 8d. per gallon is estimated to reach about 130 million gallons in 1937. If a duty of 8d. per gallon were pay able in respect of this quantity the yield would be £4,300,000. Information is not available as to the quantity of heavy hydro-carbon oils produced from indigenous materials which replaces dutiable imported oils subject to duty at 1d. per gallon.