asked the Minister for Finance the total collected annually in revenue from petrol; the amount of the retail price of each gallon of petrol which represents tax; and if, having regard to the considerable increase in petrol prices about to be charged by producer countries, he will now grant a substantial cutback in petrol tax to prevent any further increase in petrol prices to the consumer.
Ceisteanna—Questions. Oral Answers. - Petrol Prices.
31.
Net receipts from the customs and excise duties on petrol in the year ended March 31st, 1970 amounted to £36.2 million. In addition, turnover tax, at the rate of 2½ per cent, was payable in that period on receipts from retail sales but a separate return from this tax in respect of petrol sales is not available.
The customs duty on a gallon of petrol is 21.17p and the excise duty is 20.75p. Turnover tax is payable, now at the rate of 5 per cent, on receipts from retail sales; this amounts to approximately 1.6p a gallon.
I am not prepared to reduce the tax on petrol in the circumstances represented by the Deputy.