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Treasury net £246m

22nd December 1978, Page 11
22nd December 1978
Page 11
Page 11, 22nd December 1978 — Treasury net £246m
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Which of the following most accurately describes the problem?

VEHICLE excise duty on goods vehicles of 30cwt and over is estimated to be €.246m this year. Robert Sheldon, Financial Secretary to the Treasury, who gave this estimate in the Commons, noted that duty on cars and vans below 30cwt would probably be £820m in 1978-1979.

Trevor Skeet (Tory, Bedford), who had asked for the figures, also wanted to know the result of an extra 20p on a gallon of petrol. Mr Sheldon told him that, in the absence of other changes, increasing the excise duty on petrol to raise the price, including value added tax, by 20p a gallon, would yield about £825m in a full year,