§ 54. Mr. Errollasked the Chancellor of the Exchequer what is the net contribution of the British oil industry to the balance of payments at the present time.
§ Mr. JayI am afraid that I cannot give a precise figure without disclosing information about the operations of individual companies which is collected on a confidential basis; but the amount is substantial and reflects credit on those working for the oil companies who have thus contributed to the nation's foreign exchange earnings.
§ Mr. ErrollAs the Minister was able to give the precise figure only a few months ago, can be say in what way the circumstances have changed to make it impossible to give the figure now?
§ Mr. JayI think that the figure to which the hon. Gentleman refers was the figure of gross sales and not of net earnings relevant to the balance of payments, which is a more difficult position.
§ Mr. ErrollA subsequent Question did reveal that information.