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Petrol

Volume 929: debated on Thursday 7 April 1977

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asked the Chancellor of the Exchequer if he will publish in the Official Report his estimate of the increase in the price of petrol if vehicle tax were abolished and the revenue which this yields now paid for through petrol prices.

Petrol prices would have to be increased by 18½p to produce sufficient revenue to compensate for the abolition of vehicle excise duty on private vehicles.

asked the Chancellor of the Exchequer if he will publish details of tax revenue collected from an additional 3p tax on a pint of beer compared with 5½p on a gallon of petrol, respectively.

It is estimated that raising the duty on road fuel by 5p a gallon—which with VAT increases taxation on petrol to the private motorist by a little over 5½p a gallon—and increasing taxation—duty and VAT—on beer by 3p a pint each yield about £300 million additional revenue in a full year.

CHANGE PER GALLON
BetweenLight oils and road fuelGas oil, fuel oil and KeroseneOther oil: mainly lubricating oil
1st November 1951 and 31st October 1964+10½d.+2d.+2d,
1st November 1964 and 30th June 1970+1s. 9d.+0·4d.-0·6d.
1st July 1970 and 28th February 1974No changeNo changeNo change
1st March 1974 and 31st March 1977+12·5pGas oil, fuel oil and aviation turbine fuel:+1·5p
+1·5p
Other kerosene: No chance