HC Deb 18 June 1979 vol 968 c1050E

Motion made, and Question,

That charges to petroleum revenue tax may be imposed by—

  1. (a) increasing the rate of petroleum revenue tax for chargeable periods ending after 31st December 1978 from 45 per cent. to 60 per cent.;
  2. (b) reducing the rate of the supplement under section 2(9)(b)(ii) and (c)(ii) of the Oil Taxation Act 1975 on expenditure allowable under that Act;
  3. (c) reducing the oil allowances specified in section 8(2) and (6) of that Act;
  4. (d) metricating amounts specified in that Act; and
  5. (e) repealing section 9(1) of the Petroleum and Submarine Pipe-lines Act 1975 (exemption for British National Oil Corporation and its wholly owned subsidiaries) and making provision in connection therewith.—[Sir Geoffrey Howe.]

put forthwith pursuant to Standing Order No. 94 (Ways and Means motions), and agreed to.