HC Deb 30 March 1983 vol 40 c354

4 pm

Mr. John Smith (Lanarkshire, North)

I beg to ask leave to move the Adjournment of the House, under Standing Order No. 9, for the purpose of discussing a specific and important matter that should have urgent consideration, namely, the impending forced sale of the Wytch Farm oilfield". The matter is specific and important because the Government's policy is to force the British Gas Corporation to sell its interest in a most important onshore nuclear oilfield, which has developed on its own initiative into an extremely valuable asset, for no reason other than the Government's ideological obsession to strip public corporations of their assets. On numerous occasions hon. Members have expressed their fears that the Government are seeking to force the British Gas Corporation to sell its interest at well below its true value to the nation.

The matter is urgent because I understand that today the Secretary of State for Energy is meeting—or has met—the corporation in an attempt to force the sale at a low price.

In reply to a question in the House on Monday of this week, the Secretary of State said: The only independent valuation of which I am aware is that produced last month by the distinguished oil analyst, Wood Mackenzie and Company, which put a value of between £141 million and £213 million on the BGC's interest."—[Official Report, 28 March 1983; Vol. 40, c. 12.] That statement contrasts disturbingly with a written answer on 29 July last year, in reply to a question by my hon. Friend the Member for Merthyr Tydfil (Mr. Rowlands), when the Under-Secretary said: My Department has seen. on a confidential basis, a copy of an independent report prepared by petroleum consultants on the prospects for PL.089."—[Official Report, 29 July 1982; Vol. 28, c. 636.] It is quite clear that two valuations were given to the Secretary of State for Energy. They were made known to the Department, and must have been known to him. The only valuation of which the Secretary of State claimed knowledge last Monday was, not surprisingly, much lower than the one to which I have referred.

Before the House has an opportunity to consider this matter, and in the context of misleading information given to the House by the Secretary of State for Energy, a fait accompli may have taken place. I therefore seek to call the Secretary of State to the House to account for his actions before it is too late.

Mr. Speaker

The right hon. Member for Lanarkshire, North (Mr. Smith) gave me notice before 12 o'clock midday that he would seek leave to move the Adjournment of the House for the purpose of discussing a specific and important matter that should be given urgent consideration, namely, the impending forced sale of the Wytch Farm oilfield. As the House knows, under Standing Order No. 9, I am directed to take into account the several factors set out in the order, but to give no reason for my decision.

I listened carefully to the right hon. Gentleman and to the arguments that he advanced, but I must rule that his submission does not fall within the provisions of the Standing Order. Therefore, I cannot submit his application to the House.