§ Mr. BlizzardTo ask the Chancellor of the Exchequer what estimate he has made of the cost of defraying for a year a one pence per litre increase in duty on petrol and diesel. [179147]
§ John HealeyEstimates of the revenue yield from an increase in road fuel duty rates were published in table 6 of the "Tax Ready Reckoner and Tax Reliefs" alongside the 2003 pre-Budget report, a copy of which is available in the Library of the House.
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§ Mr. BlizzardTo ask the Chancellor of the Exchequer how much additional tax revenue accrues to the Treasury from each one pence rise in(a) the market price of crude oil and (b) the pump price of (i) petrol and (ii) diesel. [179148]
§ John HealeyThe overall impact of higher oil and road fuel prices on tax revenues and the public finances is complex as they will increase some tax revenues and Government expenditures while decreasing others, depending on their wider impact on the economy in general. Reliable estimates of the impact of changes in prices are not available.