§ Mr. Ralph Howellasked the Chancellor of the Exchequer if he will give the total yield of (a) direct tax and (b) indirect tax for each year since 1970; and what percentage each amount was of total tax take.
§ Mr. BrittanThe figures are as follows. Total taxation has been taken to include national insurance contributions and local rates.
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Direct taxes Indirect taxes £ billion Percentage of total £ billion Percentage of total 1970–71 9.5 49.0 9.9 51.0 1971–72 10.3 49.8 10.4 50.2 1972–73 10.7 48.6 11.3 51.4
Direct taxes Indirect taxes £ billion Percentage of total £ billion Percentage of total 1973–74 12.5 50.3 12.4 49.7 1974–75 17.0 53.3 14.9 46.7 1975–76 21.0 52.2 19.2 47.8 1976–77 24.2 52.1 22.2 47.9 1977–78 25.7 49.1 26.7 50.9 1978–79 28.4 48.4 30.2 51.6 1979–80 33.5 45.6 39.9 54.4 1980–81 40.1 46.2 46.7 53.8 1981–82 48.7 47.4 54.1 52.6 *1982–83 52.5 47.8 57.2 52.2 * Estimated.
§ Mr. Leeasked the Chancellor of the Exchequer if he will publish in the Official Report a table showing in constant prices, 1981 = 100, for each year since 1945 (a) total Government revenue from all taxes and (b) total central Government revenue from all taxes per capita.
§ Mr. BrittanTotal taxation, including national insurance contributions, received by the central Government, at constant 1981 prices are as follows. Estimates before 1948 are not readily available.
Year Total* taxation Taxation per capita £ million £ 1948 36,638 733 1949 38,248 760 1950 38,230 756 1951 38,254 756 1952 36,821 726 1953 35,989 707 1954 36,456 714 1955 37,887 740 1956 36,854 717 1957 37,552 727 1958 38,265 738 1959 38,805 744 1960 38,996 742 1961 41,931 792 1962 44,409 831 1963 44,081 821 1964 46,353 858 1965 50,227 924 342W
£ million Royalties Petroleum revenue tax Supplementary petroleum duty Corporation tax* Total 1967–68 — — — — — 1968–69 1 — — — — 1969–70 2 — — — 2 1970–71 3 — — 2 5 1971–72 6 — — 4 10 1972–73 11 — — 4 15 1973–74 12 — — 3 15 1974–75 15 — — 5 20 1975–76 20 — — 5 25 1976–77 71 — — 10 81 1977–78 228 — — 10 238 1978–79 289 183 — 90 562 1979–80 661 1,435 — 266 2,362 1980–81 992 2,410 — 480 3,882 1981–82 1,387 2,390 2,025 650 6,452 * Corporation tax before any ACT set off
Year Total* taxation Taxation per capita £ million £ 1966 53,037 970 1967 57,962 1,055 1968 64,012 1,161 1969 69,610 1,257 1970 72,261 1,301 1971 68,413 1,228 1972 65,240 1,168 1973 67,844 1,211 1974 72,954 1,302 1975 73,523 1,313 1976 74,903 1,339 1977 75,983 1,359 1978 75,724 1,355 1979 80,327 1,436 1980 82,922 1,480 1981 86,031 1,536 * Taxation in current prices deflated by the GDP at market prices deflators. Source: National Accounts.
§ Mr. Arthur Lewisasked the Chancellor of the Exchequer, whether he will amend the law to make it illegal for any public advertisement to be published in the British press by foreign banks which are not licensed by the Bank of England and not covered by the 75 per cent, depositors' compensation scheme on the first £10,000 as with British banks.
§ Mr. Bruce-GardyneThe Treasury has powers under section 34 of the Banking Act 1979 to regulate the issue, form and content of advertisements inviting the making of deposits. Regulations have not yet been made under this section. My right hon. Friend is at present considering whether to make such regulations and what form, if any, they might take. A statement will be made in due course.
§ Mr. Ernie Rossasked the Chancellor of the Exchequer what was the revenue from royalties, petroleum revenue tax, supplementary petroleum duty and coporation tax from North sea oil and gas for each year since production started.
§ Mr. Wakeham[pursuant to his reply, 16 February 1983, c. 152.] The information is as follows: