Aviation Security Levy

HC Deb 08 December 1981 vol 14 cc346-7W

Mr. Bright

asked the Secretary of State for Trade whether he proposes to change the rate of the aviation security levy in 1982.

Mr. Sproat

Yes. Revised estimates of income and expenditure suggest that if the levy is left at its present rate of £1.50 the aviation security fund will accumulate a substantial surplus of nearly £7 million by the end of the present financial year, and that the surplus will persist at about this level throughout 1982–83. In order to run down the surplus quickly, I have decided subject to the approval of Parliament to reduce the levy rate to £1.10 from 1 March 1982 until 31 August 1982, when it will revert to £1.50. It is estimated that this will reduce the fund's surplus to less than £1 million at the end of 1982–83. Draft amendment regulations will be laid shortly.