asked the Minister for Finance the estimated change in revenue which might be achieved by reducing excise duty on petrol (a) by 10p and (b) by 20p; and the changes in the volume of sales within the State he is assuming in his reply.
Written Answers. - Excise Duty on Petrol.
47.
The information requested is set out in the following table:
|
Reduction in rate of excise duty (including the additional VAT element) on petrol equivalent to |
Estimated effect on clearances for home consumption |
Estimated change in revenue in 1986* |
|
£m |
||
|
(a) 10p per gallon |
+1 per cent |
–19.0 |
|
(b) 20p per gallon |
+3 per cent |
–35.0 |
*Assuming that the reductions were introduced in the budget, with effect from 30 January 1986.