§ 27. Mr. Edwin Wainwrightasked the Secretary of State for Trade and Industry how the amount of royalties paid to the Exchequer on North Sea supplies of natural gas for the year 1970–71 compares with royalties for 1969–70.
§ Mr. EmeryRoyalties were paid to the Exchequer in round figures of £3.4 million for 1970–71, compared with £1£5 million for 1969–70.
§ Mr. WainwrightDoes the hon. Gentleman consider that the Government are getting a fair return on North Sea gas? When the allocation of area blocks is being determined, will he make it possible for the nationalised industries also to be partners in this scheme? Is he aware that, at the time of the last allocation, many expert economists in this country thought that the Government allowed them to go at give-away prices, a most unfair and quite disgraceful practice?
§ Mr. EmeryThe policy which all Governments have maintained is to ensure the opening up of discoveries in the North Sea as quickly as possible. This policy is pursued in order to benefit both consumers and the industry. I am certain that that is what the hon. Gentleman himself wants.