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Fuel Oil (Tax)

Volume 957: debated on Thursday 9 November 1978

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asked the Chancellor of the Exchequer what is the current yield of tax on fuel oil; and what he estimates to be the advantage of the tax in market terms to the coal industry expressed in £ per ton of coal.

I have been asked to reply.In 1977–78 total revenue obtained from tax on fuel oil was £151·5 million. This is equivalent to a margin of approximately £325 per tonne of steam coal equivalent.