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Written question asked by Lord Laird (Ulster Unionist Party), in the House of Lords. It was answered by Lord Sassoon (Conservative) on Monday, 28 February 2011.

Energy: Fuel VAT

Question
To ask Her Majesty’s Government how much was raised in the last three years from duty on road fuels; how much from VAT on fuel; what is the estimated extra annual revenue from the increase in VAT on road fuels; and how much extra road fuel duty and VAT revenue is raised every time road fuel prices go up by 5p a litre.
Answer

Fuel duty receipts are published in table 3 of the UK Trade Info Hydrocarbon Oils Bulletin: https://www.uktradeinfo.com/index.cfm?task=bulloilandhas FlashPlayer=true. Fuel duty receipts for the past three years are summarised in the following table:

Fuel Duty Receipts from Road Fuels (£ billion)
2007-08 24.4
2008-09 24.0
2009-10 25.6

Broad estimates of the revenue raised from VAT on fuel can be made using consumer expenditure data for fuels from the Office of National Statistics' Consumer Trends publication (series code CDDY in Table 07.CN): www.statistics.gov.uk/downloads/theme_economy/consumer-trends-q3-2010.pdf. Future VAT revenue impacts from policy changes are estimated at an aggregate level and are not available for individual goods and services. Paragraphs 8-10 of the Office for Budgetary Responsibility's Assessment of the Effect of Oil Price Fluctuations on the Public Finances report outline the impact that fuel price shocks have on fuel duty and VAT revenues: budgetresponsibility.independent.gov. uk/d/assessment_oilprice_publicfinances.pdf.

Secondary information

Type
Written question
Reference
6783; 725 c221-2WA
Session
2010-12
Related items
Taxation: VAT
Tuesday, 21 June 2011
Written questions
House of Lords
Subjects
Excise duties Fuels Motor vehicles VAT Tax rates and bands Tax yields
Contains statistics
Yes
Link
View this Written question on www.publications.parliament.uk