§ Lord Lipseyasked Her Majesty's Government:
What revenue would have been foregone since 1992 from duty on petrol and diesel fuel excise duties if those duties had been increased in line with the retail price index. [HL4281]
§ Lord McIntosh of HaringeyHM Customs and Excise's estimate of the revenues that would have been foregone since 1992 had petrol and diesel fuel duties been increased in line with the retail price index is shown in the table.
102WA
Financial Year £ billion revenues Foregone 1992–93 0.2 1993–94 1.4 1994–95 2.7 1995–96 3.9 1996–97 5.0 1997–98 6.6 1998–99 8.4 1999–2000 9.4 The estimates include VAT and take account of expected changes in the pattern of consumers' expenditure as a result of the lower duty increases.