HC Deb 09 December 1948 vol 459 cc561-2
54. Mr. Erroll

asked 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. Jay

I 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. Erroll

As 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. Jay

I 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. Erroll

A subsequent Question did reveal that information.