Written Answers. - Petrol Price Increases.

Pat Rabbitte

Question:

112 Mr. Rabbitte asked the Minister for Finance the estimated additional revenue likely to accrue to the Exchequer through additional VAT receipts arising from the increases in the price of petrol since 1 August 1990 on the basis that petrol consumption remains at the same level as last year.

It is not possible to respond accurately to the question in the terms in which it is framed.

When all the relevant factors are taken into account it is estimated that the increases in the price of petrol since August 1990 should have little or no effect on overall VAT and excise receipts from petrol sales. Moreover, higher total expenditure on petrol would tend to have effects on the consumption of other taxable goods which would have the result of reducing other VAT receipts.

Richard Bruton

Question:

113 Mr. R. Bruton asked the Minister for Finance if he will outline the revenue raised (a) from excise and (b) from VAT on (1) petrol, (2) auto-diesel, (3) gas oil and (4) other oil products in each of the years from 1987 to 1989 and to date in the current year.

The information requested by the Deputy in so far as it is available is as follows:

Revenue Yield

1987

1988

1989

1990 (Jan.-Sept.)

Commodity

Excise

VAT

Excise

VAT

Excise

VAT

Excise

VAT

£m.

£m.

£m.

£m.

£m.

£m.

£m.

£m.

Petrol

316.4

121.0

333.6

120.0

350.3

130.0

265.9

n.a.

Auto-diesel

118.5

6.0

133.1

7.0

150.1

8.0

Gas oil

47.0

14.0

47.9

13.0

49.5

14.0

180.2

n.a.

Other oil products

23.9

5.0

17.5

5.0

15.2

5.0

Notes
1. VAT returns are not furnished in a manner which would enable the yield from particular items to be identified. It is the practice to estimate the yield on an annual basis using non-VAT statistical data. The figures for 1987 to 1989 are given on this basis and an estimate for 1990 can be given when final consumption figures for the year are available.
2. VAT yield is affected by the fact that VAT registered persons are entitled to a deduction in their returns for VAT borne on business purchases of oils other than petrol.
3. A breakdown of the excise yield from oils other than petrol is not available for the current year.