asked the Chancellor of the Exchequer if he will make a statement on the balance of trade between the United Kingdom and the rest of the EEC countries, the volume and value of the imports and exports on the United Kingdom's total financial contribution to the EEC and the total financial benefit in grants and loans to the United Kingdom since 1974.
The information is as follows:1978; Vol. 958, c.
174], gave the following answer:
Following is the information:
"Your Parliamentary Question for 24th October
'to ask the Chancellor of the Exchequer if he will update his Written Answer to the hon. Member for Norfolk South, (Mr. MacGregor) concerning income tax yields, Official Report, 26th January, so as to include complete figures for 1977–78 and best estimates for 1978–79'
has required a good deal of background work in order to produce a reply. It is becuse of this that there has been some delay.
The attached table sets out the updated figures. A slightly wider definition of total tax revenue has been used than before, so as to be consistent with answers given to the hon. Member's other Questions of the same date. No figure is yet available for the growth in RPI in. 1978–79 compared with 1977–78."
| YIELD OF INCOME TAX AND TOTAL TAX REVENUE | ||||||||
| £ million | ||||||||
Income Tax*
| Total Central Government Taxation† | Total General Government Taxation‡ | ||||||
Actuall estimated yield
| Yield if tax had risen in line with RPI
| Actuall estimated yield
| Yield if tax had risen in line with RPI
| Actuall estimated yield
| Yield if tax had risen in line with RPI
| |||
| 1973–74 | … | … | 7,550 | — | 18,155 | — | 20,865 | — |
| 1974–75 | … | … | 11,045 | 8,900 | 23,360 | 21,390 | 26,605 | 24,575 |
| 1975–76 | … | … | 15,110 | 11,090 | 28,635 | 26,670 | 32,840 | 30,650 |
| 1976–77 | … | … | 17,055 | 12,780 | 33,070 | 30,740 | 37,675 | 35,320 |
| 1977–78 | … | … | 17,080 | 14,570 | 37,440 | 35,040 | 42,845 | 40,265 |
| 1978–79 (estimate) | … | … | 18,740 | — | 42,670 | — | 43,700 | — |
* After deducting tax credits on dividends. | ||||||||
| † Central Government total tax revenue comprises taxes on income, taxes on expenditure and taxes on capital. | ||||||||
| ‡General Government total tax revenue comprises central government revenue plus local authority rates. | ||||||||
| National insurance contributions have been excluded from all columns. | ||||||||