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Taxation Policy

Volume 932: debated on Wednesday 18 May 1977

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asked the Secretary of State for Energy what additional revenue he estimates Her Majesty's Government would secure if the Government pursued a policy of taxing industry which failed to convert from oil to coal; and if he will make a statement.

Most heavy oils used as fuel are, of course, already subject to taxation, and are expected to yield £265 million in revenue in the current year. The additional revenue that might accrue from tax measures designed to encourage substantial switching by industry from oil to other fuels would depend on the form and weight of the measures contemplated.