HC Deb 15 November 1977 vol 939 cc190-1W
Mr. Lee

asked the Chancellor of the Exchequer what is the total tax revenue that has accrued so far from oil companies operating in the North Sea as a result of oil extraction; and what percentage this represents of total North Sea oil sales revenue accruing to the companies concerned.

Mr. Robert Sheldon

The accrued revenue from petroleum revenue tax and corporation tax on North Sea Oil profits up to 30th June 1977 is expected to be relatively insignificant.