§ Mr. Nicholas BrownTo ask the Chancellor of the Exchequer what is the impact of indexation of excise duties by product on(a) inflation and (b) revenues in 1991–92 and a full year.
§ Mrs. Gillian ShephardThe impact of indexation of excise duties by product on the retail prices index and revenues in 1991–92 and a full year are as follows:
Duty Item Retail price index Revenue yield 1991–92 Revenue yield full year per cent. £ million £ million Tobacco 0.20 445 515 Petrol 0.16 715 795 Derv. 0.1 185 215 Beer 0.08 150 175 Wine 0.05 55 60 Spirits 0.05 105 115 VED 0.07 280 290 Cider 1— 5 5 Other (Rebated Oils etc) 1— 15 15 Total 0.62 1,955 2,185 1 Negligible.