HC Deb 06 June 1972 vol 838 cc66-7W
66. Mr. Cockeram

asked the Chancellor of the Exchequer if he will set out the net receipts from selective employment tax and purchase tax, respectively and combined, during the years 1969–70, 1970–71 and 1971–72, giving in each case the percentage the figure would represent of the estimated yield from value-added tax in a full year.

Mr. Higgins

Following is the information:

RECEIPTS OF SELECTIVE EMPLOYMENT TAX AND PURCHASE TAX
£ million
Year S.E.T. (net) from private sector and public corporations Purchase Tax Total
1969–70 527 1,111 1,638
1970–71 501 1,270 1,771
1971–72 222 1,429 1,651

The estimate of the net receipts in a full year from the value added tax proposed for 1973–74—excluding purchases by central Government and sales of tobacco products, spirits, beer, wine, British wine, matches and mechanical lighters—is given in the Financial Statement as £1,475 million. No estimates are available for the hypothetical yield in earlier years.

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