Budget Resolutions and Economic Situation — 3. Spirits (rate of duty) — 7 Jul 1997

Resolved ,

That provision may be made for imposing a tax on the amount of the windfall from which a company was benefitting on 2nd July 1997 in any case where--

(a) an undertaking whose privatisation involved the imposition of economic regulation has been privatised by means of a flotation; and

(b) the profits of the undertaking in the period after the flotation show that the company was benefitting on that date from a windfall from that flotation.

Resolved,

That--

(1) In section 2(1A) of the Value Added Tax Act 1994, for "8 per cent." there shall be substituted "5 per cent.".

(2) This Resolution applies in relation to any supply made on or after 1st September 1997 and any acquisition or importation taking place on or after that date.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

Resolved,

That provision may be made increasing the rate of duty set out in section 5 of the Alcoholic Liquor Duties Act 1979.

4. Beer (rate of duty)

Resolved,

That provision may be made increasing the rate of duty set out in section 36(1) of the Alcoholic Liquor Duties Act 1979.

5. Wine and made-wine (rates of duty)

Resolved,

That provision may be made increasing the rates of duty set out in the Table in Schedule 1 to the Alcoholic Liquor Duties Act 1979.

6. Cider (rates of duty)

Resolved,

That provision may be made increasing the rates of duty set out in section 62(1A) of the Alcoholic Liquor Duties Act 1979.

7. Hydrocarbon oil (rates of duties and rebates)

Motion made, and Question put,

That--

(2) In relation to times after the coming into force of section 7(2) and (3) of the Finance Act 1997, section 6(1A) of the 1979 Act shall have effect as follows--

(a) in paragraph (a), for "£0.4168" there shall be substituted "£0.4510";

(b) in paragraph (b), for "£0.3586" there shall be substituted "£0.3928"; and

(c) in paragraph (c), for "£0.3686" there shall be substituted "£0.4028".

(3) In section 11(1) of the 1979 Act, for "£0.0194" and "£0.0250" there shall be substituted "£0.0200" and "£0.0258", respectively.

(4) In section 14(1) of the 1979 Act, for "£0.0194" there shall be substituted "£0.0200".

(5) This Resolution shall have effect as from 6 o'clock in the evening of 2nd July 1997.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

The House divided: Ayes 335, Noes 137.

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