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|
|(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|
|Non-North Sea corporation tax1||+5·8|
|Taxes on expenditure, excluding LA rates, NIS and stamp duties||+17·2|
|North Sea revenues2||+2·8|
|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.|