§ Mr. Skeetasked the Secretary of State for Energy whether he proposes to proceed with the sale of North Sea oil savings bonds announced by the former Secretary of State for Energy in the Official Report on 3 November 1980, columns 947–48.
§ Mr. Bruce-GardyneI have been asked to reply.
In view of the plans which my right hon. Friend the Secretary of State for Energy has announced to offer shares in the British National Oil Corporation's oil producing business directly to the public through the measures proposed in the Oil and Gas (Enterprise) Bill published today, I have decided there is now no need to proceed with the national savings instrument of North Sea oil bonds previously envisaged.