§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer what is his estimate of total income to the Treasury resulting from a three pence per litre increase in tax on vehicular fuel. [29491]
§ Dawn PrimaroloThe full year revenue yield in 1998–99 from a 3 pence per litre tax increase (duty plus VAT) on road fuels is £1.1 billion.
§ Mr. Matthew TaylorTo ask the Chancellor of the Exchequer if he will estimate the total income to the Treasury resulting from(a) a 6 per cent., (b) an 8 per cent. and (c) a 10 per cent. annual increase in tax on vehicular fuel per annum in each year for the next five years. [29490]
§ Dawn PrimaroloRevenue yields for the various options for road fuels described in the question are given in the following table:
£ million 1998–99 1999–2000 2000–01 Increase road fuel duties by: 6 per cent. per annum 1,075 2,200 3,420 8 per cent. per annum 1,425 2,935 4,580 10 per cent. Annum 1,775 3,670 5,745 The estimates include consequential VAT and are for the additional revenue compared with leaving the existing duty rates unchanged in a full year. Detailed estimates for later years are not published.