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Petroleum Revenue Tax

Volume 979: debated on Thursday 21 February 1980

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asked the Chancellor of the Exchequer what revenues he expects from petroleum revenue tax over the next three years; and what revenues he assumes from direct and indirect taxation over the same period, assuming no changes in present rates of taxation.

Forecasts of revenue receipts in 1980–81 from petroleum revenue and other taxes will be given in the Financial Statement and Budget Report. I am unable to give projections for later years.