§ Mr. MilburnTo ask the Chancellor of the Exchequer if he will translate the column headed "Non-North Sea oil taxes and NICs" in table 4A9, page 88 of the "Financial Statement and Budget Report 1997–98", into cash figures at 1997–98 prices. [15253]
§ Mr. Waldegrave[holding answer 11 February 1997]: The table shows the information requested. However, cash figures for tax receipts over a long run of years-even if measured at constant prices-are of only very limited interest if they are not set in the context of what has happened to national income over the same period. This is why the historical time series for spending, receipts and borrowing in tables 4.A8 and 4.A9 of the 1997–98 "Financial Statement and Budget Report" are all expressed as ratios to gross domestic products.
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Non-North sea taxes and NICs (£ billion, 1997–98 prices) Cash figure 1965–66 109.1 1966–67 107.9 1967–68 119.5 1968–69 135.1 1969–70 142.4 1970–71 144.1 1971–72 144.3 1972–73 143.5 1973–74 160.6 1974–75 168.2 1975–76 174.7 1976–77 186.5 1977–78 182.6 1978–79 180.8 1979–80 188.1 1980–81 188.6 1981–82 195.6 1982–83 199.8 1983–84 211.8 1984–85 216.7 1985–86 225.8 1986–87 244.6 1987–88 257.5 1988–89 266.3 1989–90 268.3 1990–91 253.0 1991–92 244.9 1992–93 232.3 1993–94 234.6 1994–95 252.3 1995–96 262.1 1996–97 268.9 1997–98 280.9 1998–99 292 1999–00 304 2000–01 316 2001–02 327 Non-North sea taxes and NICs are rebased to 1997–98 prices using the GDP deflator. Forecasts and projections of the GDP deflator were published in table 3.11 and 5A.1 of the 1996 "Financial Statement and Budget Report".