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Mr. Richard Shepherd
asked the Chancellor of the Exchequer what was the total revenue in taxation from sales of oil and petrol in the most recent annual period for which figures are available; and what were the comparable figures in each of the previous five years.
Mr. Peter Rees
It is estimated that receipts of excise duty and VAT on hydrocarbon oil in the last six financial years were, approximately:
| (£ million) | ||||
| 1978–79 | … | … | … | 2,775 |
| 1977–78 | … | … | … | 2,750 |
| 1976–77 | … | … | … | 2,375 |
| 1975–76 | … | … | … | 1,975 |
| 1974–75 | … | … | … | 1,800 |
| 1973–74 | … | … | … | 1,575 |