§ Mr. John Smithasked the Chancellor of the Exchequer how much the Government have received in royalties for offshore oilfields for each financial year since 1979.
§ Mr. Lawson[pursuant to his reply, 1 July 1983, c. 180]:
£ millions Royalties 1978–79 289 1979–80 661 1980–81 992 1981–82 1,387 1982–83 1,643 The figures include any royalties paid in respect of onshore fields.
§ Mr. John Smithasked the Chancellor of the Exchequer how much of the revenue predicted to be 25W received from offshore oilfields will be forgone if royalties are no longer to be required from fields approved for development after April 1982.
§ Mr. Lawson[pursuant to his reply, 1 July 1983, c. 180]: The eventual cost depends upon how many fields are developed in the future; there could be an overall additional yield if sufficient fields are developed as a result of the proposal.