§ Mr. Redmondasked the Chancellor of the Exchequer what is the estimated revenue obtained from value added tax on motor vehicles in 1973–74 and to be obtained in the current financial year, respectively.
§ Dr. GilbertAbout £150 million in 1973–74 and £160 million in 1974–75.
§ Mr. Redmondasked the Chancellor of the Exchequer what is the estimated revenue to be obtained from value added tax on motor spirit and derv, respectively, in the current financial year and in a full year.
§ Dr. GilbertAs my right hon. Friend stated in his Budget speech, the estimated revenue in a full year from value added tax on road fuel is £150 million. It is estimated that about £105 million will be 35W collected in 1974–75. Net revenue from sales of diesel oil is likely to be small.
§ Mr. David Steelasked the Chancellor of the Exchequer if he will estimate the loss of revenue that would be incurred if he exempted the sale of horses from value added tax.
§ Dr. GilbertNo estimate has been made, but the amount is likely to be small.