§ Mr. Madelasked the Chancellor of the Exchequer what was his Budget estimate of the revenue he will receive from the excise duty and value added tax on petrol in the current financial year; and what revenue he received from this source in the previous financial year.
§ Dr. GilbertThe Budget estimate of hydrocarbon oil duty in 1974–75 on light oils, mainly petrol, was about £1,130 million. The estimate for VAT on road fuel was about £105 million. It is provisionally estimated that in 1973–74 receipts of duty on light oil were about £1,100 million.