§ 41. Mr. Wainwrightasked the Chancellor of the Exchequer what is his estimate of the likely shortfall in 1985–86 of tax revenues from North sea oil if its current prices prevail during the rest of that year.
§ Mr. MooreNorth sea revenues depend on other factors such as oil production and company expenditure as well as sterling oil prices. The sensitivity of oil revenue forecasts to various changes in the underlying assumptions was described in the Budget day press notice on North sea revenues.