HC Deb 13 July 1983 vol 45 c385W
Sir Hector Monro

asked the Chancellor of the Exchequer (1) if he will estimate the increased value added tax revenue which will arise from the increase in the price of petrol by 10p per gallon recently announced by the oil companies;

(2) if, in view of the increase in revenue obtained through the rise in price and its effect on value added tax income, he will reduce the petroleum duty tax.

Mr. Hayhoe

Recent increases in the price of petrol should not have a significant effect on the Budget estimate of VAT revenue which already takes account of the anticipated increase in the general price level.