: I move Financial Resolution No. 7:
(1) THAT in this Resolution—
"the Act of 1992" means the Finance Act, 1992 (No. 9 of 1992);
"the Order of 1975" means the Imposition of Duties (No. 221) (Excise Duties) Order, 1975 (S.I. No. 307 of 1975).
(2) THAT the duty of excise on mineral hydrocarbon light oil imposed by paragraph 11 (1) of the Order of 1975 shall, in lieu of the rate specified in section 150 (1) of the Act of 1992, be charged, levied and paid, as on and from the 27th day of January, 1994, at the rate of £299.39 per 1,000 litres.
(3) THAT for the purposes of the rebate of duty on mineral hydrocarbon light oil provided for in section 56 (3) of the Finance Act, 1988 (No. 12 of 1988), section 89 of the Finance Act, 1990 (No. 10 of 1990), shall apply as on and from the 27th day of January, 1994, as if the reference therein to section 40 (1) of the Finance Act, 1989 (No. 10 of 1989), which, by virtue of section 150 (2) of the Act of 1992, is construed as a reference to section 150 (1) of the Act of 1992, were instead a reference to paragraph (2) of this Resolution.
(4) THAT the duty of excise on hydrocarbon oil imposed by paragraph 12 (1) of the Order of 1975 shall, in lieu of the rate specified in section 56 (4) of the Finance Act, 1988, be charged, levied and paid, as on and from the 27th day of January, 1994, at the rate of £235.49 per 1,000 litres.
(5) THAT subject to the provisions of the Imposition of Duties (No. 265) (Excise Duty on Hydrocarbon Oils) Order, 1983 (S.I. No. 126 of 1983), the amount of the rebate allowed under paragraph 12 (3) of the Order of 1975 shall, in respect of fuel oil within the meaning of paragraph 3 of the Imposition of Duties (No. 256) (Excise Duty on Hydrocarbon Oils) Order, 1981 (S.I. No. 404 of 1981), which is imported or delivered from the premises of a refiner of hydrocarbon oil or from a tax warehouse on or after the 27th day of January, 1994, and in lieu of the rate specified in section 69 (1) of the Finance Act, 1993 (No. 13 of 1993), be the amount of duty chargeable less an amount calculated at the rate of £10.60 per 1,000 litres.
(6) THAT the duty of excise on used hydrocarbon oil imposed by Regulation 24 (2) (a) of the European Communities (Customs and Excise) Regulations, 1992 (S.I. No. 394 of 1992), shall not be charged or levied on or after the 27th day of January, 1994.
(7) IT is hereby declared that it is expedient in the public interest that this Resolution shall have statutory effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).
This Resolution provides for an excise duty increase on petrol which, when VAT is included, amounts to one and a half pence on a litre or less than seven pence on a gallon; an excise duty increase in auto diesel which, when VAT is included, amounts to one and a half pence per litre or less than seven pence per gallon; an excise duty increase of 85 pence for 1,000 litres of industrial fuel oil and the abolition of the excise duty on waste oil which has been recycled for use as fuel for industrial purposes, with effect from midnight tonight.