§ 113. Mr. Jannerasked the Chancellor of the Exchequer, in view of the fact that the greater proportion of petrol consumed on the roads of the country is for commercial and business purposes, what he estimates to be the amount by which the total yield he anticipated from the additional 1s. per gallon tax on petrol will be offset by the reduced yield from Income Tax on account of business expenses being increased through the said petrol tax.
§ Mr. P. ThorneycroftThe yield of the additional duty on hydrocarbon oils is little more than sufficient to make good the fall in yield of the duty at the old rate as a result of the reduction in supplies. The total amount of the duty entering into business expenses is, therefore, unlikely to show any substantial change and the probable yield of Income Tax will accordingly not be appreciably affected.