asked the Minister for Finance the net addition to tax revenue in a full financial year if duties on beers were to be increased so as to raise the retail price by 2p per pint.
149.
Written Answers. - Tax Revenue.
148.
asked the Minister for Finance the net addition to tax revenue in a full financial year if duties on spirits were to be increased so as to raise the retail price by 2p per glass.
150.
asked the Minister for Finance the net addition to tax revenue in a full financial year if duties on tobacco were to be increased so as to raise the retail price by 2p per packet of 20.
It is proposed to answer Questions Nos. 148, 149 and 150 together. Following is the information:
|
Increases in duties, including the addi- tional VAT element, equivalent to a rise in the Retail Price of |
Approximate annual net additional yield in revenue, based on current patterns of consumption |
|
£million |
|
|
2p on a pint of beer |
13.2 |
|
2p on a glass of spirits |
3.9 |
|
2p on 20 standard size plain cigarettes |
5.7 |
151.
asked the Minister for Finance the net addition to tax revenue of an increase of 1 per cent on each of the present rates of valueadded tax, 6.75, 19.50 and 36.75 per cent.
An increase of 1 percentage point in each of the VAT rates of 6.75, 19.50 and 36.75 per cent is estimated to produce an additional sum of £14 million in a full year.
152.
asked the Minister for Finance the loss in a full financial year in tax revenue of a general reduction of 5 per cent in the rate of surtax.
It is estimated that to reduce the rates of surtax from 15 per cent, 30 per cent and 45 per cent to 10 per cent, 25 per cent and 40 per cent respectively would result in an annual cost of £1.1 million.
153.
asked the Minister for Finance the loss in tax revenue in a full financial year of increasing the tax-free margin for surtax by £500.
The cost of raising the tax-free margin for surtax by £500 is estimated at about £0.85 million in a full financial year.