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Petroleum Oils (Taxation)

Volume 236: debated on Wednesday 19 March 1930

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asked the Chancellor of the Exchequer the amount that would be raised by the Exchequer through the imposition of a revenue tax upon heavy oil suitable for combustion as fuel or burning oil under boilers and upon diesel oil entering or bunkered in United Kingdom ports at the rate of 5s. per ton?

I would refer the hon. Member to the Board of Trade Journal of 22nd August, 1929, which contains particulars for 1928 of the importation of the various petroleum oils, the home production of oils from imported crude petroleum, etc., and the bunker shipments, and to the Trade and Navigation Accounts for December, 1929, which show the importation of petroleum oils in 1929. From these sources the hon. Member will, no doubt, be able to obtain the necessary information for calculating the yield of the tax he has in mind, the scope of which is not clear.