§ Question proposed, That the clause stand part of the Bill.
§ The Minister of State, Treasury (Mr. John Wakeham)The purpose of the clause is to double the oil allowance for future freestanding oilfields. It is one of two new concessions for the future freestanding oilfields. The other is the abolition of oil royalties, for which separate legislation will be required, and would be introduced by my right hon. Friend the Secretary of State for Energy in the new Parliament.
§ Question put and agreed to.
§ Clause 74 ordered to stand part of the Bill.