§ Question proposed, That the clause stand part of the Bill.
§ 7 pm
§ Mr. WakehamThis clause and the schedule introduce a new PRT relief for exploration and appraisal drilling expenditure incurred after Budget day, provided that it is not within an existing PRT field. The relief goes much wider than abortive exploration relief, which it replaces. It may be claimed immediately by a participator against any PRT-paying field in which he has an interest. The cost of the new relief was estimated to make it about £40 million for 1983–84 and, thereafter, £45 million for each of the years to 1986–87.
§ Question put and agreed to.
§ Clause 75 ordered to stand part of the Bill.