Below is the text of Mr Major’s written Parliamentary Answer on Tax and National Insurance Revenue on 27th January 1989.
Mr. Ralph Howell To ask the Chancellor of the Exchequer what has been the overall revenue from taxation plus national insurance contribution in cash terms, real terms, and as a percentage of gross domestic product for each period of five years since 1959.
Mr. Major The available information is as follows:
Total revenue from taxation plus national insurance contributions in current prices, real terms and as a percentage of GDP
Five year averages £ billion | Total taxes and NICs (current prices – prices prevailing at the time) | Total taxes and NICs in real terms (1987–88 prices) | Total taxes and NICs as a per cent. of GDP
1963–64 to 1967–68 11.4 81.1 31.1
1968–69 to 1972–73 19.0 103.9 34.9
1973–74 to 1977–78 39.1 117.1 35.2
1978–79 to 1982–83 86.0 131.7 37.0
1983–84 to 1987–88 139.2 152.2 38.4
Source: CSO, Financial Statistics Economic Trends.