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Taxation: Fuels

Volume 475: debated on Wednesday 7 May 2008

To ask the Chancellor of the Exchequer (1) how much VAT revenue was raised from the sale of road fuel in each of the last 60 months for which figures are available; (203945)

(2) if he will estimate the average percentage of average household disposable income accounted for by (a) the purchase of road fuel and (b) the duty and VAT payable on road fuel in each of the last (i) five years and (ii) 12 months;

(3) what projections his Department has made of the amounts of revenue that would be raised annually from (a) road fuel duty and (b) VAT on road fuel if the price of oil was (i) 120, (ii) 130, (iii) 140 and (iv) 150 US dollars per barrel;

HM Revenue and Customs does not collect data on VAT from individual goods and services.

Annual estimates of the percentage of disposable household income accounted for by road fuels and duty and VAT payable on road fuels can be calculated from data held in the House of Commons Library. Data on average household income and expenditure are available from the Expenditure and Food Survey, published by the Office for National Statistics. Data on average road fuel prices per litre and average duty rates are contained in the “Tax Benefit Reference Manual”. Data are not available on a monthly basis.

No projections of revenues at hypothetical levels of oil price have been made.