Tobacco

HC Deb 22 March 1976 vol 908 c53W

Mr. George Grant

asked the Chancellor of the Exchequer what has been the annual tax revenue from tobacco in each of the last five years.

Mr. Robert Sheldon

The information is as follows:

Financial Year					Revenue (£ million)
1970–71	…	…	…	…	1,142.5
1971–72	…	…	…	…	1,125.3
1972–73	…	…	…	…	1,184.7
1973–74	…	…	…	…	1,195
1974–75	…	…	…	…	1,525

The figures for 1973–74 and 1974–75 include estimates of VAT receipts from the supply of tobacco. Because VAT is collected in arrear and there were rebates of tobacco duty paid on goods held in stock on 31st March 1973 before the introduction of VAT, the revenue in 1973–74 was less than for a full year.