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Taxes And Duties

Volume 978: debated on Tuesday 12 February 1980

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asked the Chancellor of the Exchequer what is his estimate of the effect on revenue of the following charges (a) in a, full year and (b) in 1980–81 (i) raising the tax threshold in line with inflation, (ii) raising specific duties in line with inflation specifying the individual items, (iii) abolition of the 25p reduced rate band, (iv) abolition of the investment discount surcharges, (v) abolition of personal capital gains tax, (vi) abolition of capital transfer tax, (vii) abolitilon of stamp duty, (viii) a 10 per cent. increase in the yield from petroleum revenue tax and (ix) a 10 per cent. surcharge on advance corporation tax.

I will let the right hon. Member have a reply as soon as possible.

asked the Chancellor of the Exchequer, what was the amount of tax or duty in percentage terms in the normal retail price of whisky, beer and wine in each of the last 20 years immediately after the application of any alteration in the Budget for the appropriate year.

It is estimated that for typical off-licence prices for whisky and typical public bar prices for beer the duty and the contents were probably as below. I will write to my hon. Friend about wine.

Per cent.
WhiskyBeer
19606646
19616646
65*41*
19626541
19636538
19646740
19657042
196671*44*
19677144
19688544
89*47*
19698943
19708939
19719239
19729136
19738833
197490†32†
19758635
19768234
197780*32*
19787831
19797832
* In four of these years surcharges were imposed by means of the economic regulator.
†Includes VAT before the reduction of the rate to 8 per cent.