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Taxation (Yield)

Volume 115: debated on Friday 1 May 1987

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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
1978–791987–88Change
(a) Direct taxes57·873·8+16·0
of which Income tax(38·9)(40·0)(+1·1)
(b) Indirect taxes61·182·4+21·4
(c) Total taxes, royalties and national insurance and other contributions3118·9156·3+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.