§ Mr. Sillarsasked the Chancellor of the Exchequer what estimate he has made the economic multiplier effect of each oil-related job.
§ Mr. Joel Barnett,pursuant to his reply [Official Report, 30th June 1976; Vol. 914, c. 206], gave the following answer:
No detailed analysis of this multiplier has been made, but there has apparently been little displacement of alternative employment by expanding North Sea oil related employment, so the multiplier is unlikely to be less than the average, and in high-wage oil-related jobs it could be more. The average multiplier is estimated to be around 1¼, but this should be regarded as an order of magnitude rather than a precise estimate.