asked the Chancellor of the Exchequer if he will publish in the Official Report a table showing the yield in real terms in (a) 1978–79 and (b) what he is now proposing for 1987–88 in (i) direct taxes, including national insurance and (ii) indirect taxes.
[pursuant to his reply, 22 April 1987, c. 577]: The figures are as follows:
£ billion 1987–88 prices1 | |||
1978–79 | 1987–88 | Change | |
(a) Direct taxes | 57·8 | 73·8 | +16·0 |
of which Income tax | (38·9) | (40·0) | (+1·1) |
(b) Indirect taxes | 61·1 | 82·4 | +21·4 |
(c) Total taxes, royalties and national insurance and other contributions3 | 118·9 | 156·3 | +37·4 |
1 revalued using the GDP deflator. | |||
2 components do not add to total because of rounding. |
asked the Chancellor of the Exchequer what is the estimated yield from all sources of taxation including excise and other duties for 1987–88; what was the comparable yield for 1978–79 revalued at 1987–88 prices; and if he will publish a breakdown by categories of the real increase in taxes between 1978–79 and 1987–88 similar to that in his answer of 25 March 1986, Official Report, columns 426–27.
[pursuant to his reply, 22 April 1987, c. 577]: The estimated total yield from all sources of taxation including local authority rates and national insurance contributions is 156 billion in 1987–88; the yield in 1978–79 revalued at 1987–88 prices using the GDP deflator is £119 billion. The other information requested is in the table.
£ billion 1987–88 prices | |
Change on 1978–79 | |
Income tax | +1·1 |
Non-North Sea corporation tax1 | +5·8 |
Capital Taxes | +1·6 |
Employee's NICs | +5·5 |
Employer's NICs | +2·2 |
NIS | -4·3 |
LA rates | +5·1 |
Stamp duties | +1·2 |
Taxes on expenditure, excluding LA rates, NIS and stamp duties | +17·2 |
North Sea revenues2 | +2·8 |
Others3 | -0·8 |
Total change in taxes, royalties and national insurance contributions | +37·4 |
1 Including mainstream and advance corporation tax. | |
2 Before advance corporation tax (ACT) set-off. | |
3 Adjustments for ACT set-off against North Sea corporation tax plus accruals adjustment. |