Revenue from Recent Price Increases
The estimated direct revenue increases are £271,000 from beer and spirits and £456,000 from petrol; food products are not liable to VAT. The figures exclude changes in consumption and the effects of the petrol shortage.
asked the Minister for Finance the estimated increase in revenue in the current financial year from the latest price increase in (a) beer and spirits, (b) petrol and (c) food products generally.
Comment on this
: The estimated direct increase in revenue in the current financial year from the latest price increase (a) in beer and spirits is £271,000 and (b) in petrol is £456,000. These figures do not take into account the revenue effects of any consequential shifts in consumption, nor the effects of the recent petrol shortage. Food products generally are not liable to VAT.