In the financial year 1969–70 income tax receipts represented 12·3 per cent. of the gross national product and amounted to £4,907 million. In the financial year ended 5th April 1973 the percentage had fallen to 11·9 per cent. of gross national product and amounted to £6,477 million. For the 12 months ended 31st May 1973 the figure was £6,577 million.