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Subsidies

Volume 886: debated on Wednesday 19 February 1975

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asked the Chancellor of the the Exchequer if he will publish in the Official Report a table showing the latest estimated cost of each central Government subsidy both on food and for the products of nationalised industries in the current financial year and showing these costs as a part of standard rate of income tax.

Following is the information:

Food subsidies
£ million
Bread63
Butter60
Cheese39
Flour5
Milk331
Tea17
Total515
Nationalised industries subsidies
1. Compensation for price restraint:
Electricity
England and Wales290
Scotland25
Gas25
Post Office300
Sub-total640
2. Other:
Rail370*
Coal140
Total1,150
* Excluding capital grants.
The total estimated expenditure on these subsidies of £1,665 million is equivalent to about 18 per cent. of the estimated yield from basic rate income tax in 1974–75.