§ Mr. Knoxasked the Chancellor of the Exchequer by how much the revenue derived from purchase tax changed in each year since 1964.
§ Mr. HigginsFollowing is the information:
Financial year Net receipts of Purchase Tax £ million Change on previous financial year Per cent. 1963–64 564.9 -1.0 1964–65 633.1 +12.1 1965–66 646.3 +2.1 1966–67 686.2 +6.2 1967–68 747.8 +9.0 1968–69 971.3 +29.9 1969–70 1,110.6 +14.4 1970–71 1,271.8 +14.5 1971–72 1,428.6 +12.3 Note: Purchase Tax rates were cut by two-elevenths on 19th July, 1971. But most purchase tax is collected a quarter in arrear, so that the lower rates affected revenue receipts for less than six months in 1971–72; in addition, the postal strike deferred until 1971–72 about £20 million of purchase tax receipts which would otherwise have been paid in 1970–71