§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer what is his estimate of total income to the Treasury resulting from an increase in petrol and diesel duties exclusive of value added tax of(a) 1p per litre, (b) 3p per litre and (c) 4.5p per litre. [7479]
§ Mr. OppenheimBased on information in the "Tax Ready Reckoner and Tax Reliefs," increasing the duty rate on petrol and diesel by 1p, 3p and 4.5p per litre would yield approximately £0.5 billion, £1.4 billion and £2.1 billion respectively in the first full year. Costings take account of the effects on behaviour where they are likely to have a significant effect on the yield and any consequential changes in receipts from related taxes including VAT; and they are measured against a non-indexed base.