§ Mr. SpearingTo ask the Chancellor of the Exchequer if he will tabulate in theOfficial Report the revenues, actual or estimated, that have been received by Her Majesty's Government, or are expected to be received, for each year from 1979–80 to 1988–89 in millions of pounds at 1987–88 prices derived from (a) revenue from North sea oil, (b) revenue from asset sales of privatisations and (c) other sales of land or property of central or local government or their agencies, showing the respective annual totals and the aggregate total for the period.
§ Mr. Major[holding answer 13 January 1989]: The figures requested are given in the table.
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£ million at 1987–88 prices 1979–80 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 1986–87 1987–88 1988–89 Total outturn outturn outturn outturn outturn outturn outturn outturn outturn estimated outturn Revenue from North sea oil2 4,061 5,548 8,761 9,852 10,598 13,791 12,340 5,052 5,305 13,100 78,408 Privatisation proceeds3 662 600 665 615 1,372 2,489 2,945 4,695 5,161 15,600 24,804 Receipts from sales of land and building4 1,543 1,951 2,823 3,547 2,934 2,774 2,733 3,215 3,989 n/a n/a Total 6,266 8,100 12,249 14,013 14,905 19,054 18,017 12,963 14,455 n/a n/a 1 Calculated from rounded figures published in the 1988 Autumn Statement. 2 Oil royalties, petroleum revenue tax, supplementary petroleum duty and corporation tax before ACT set off attributable production.to United Kingdom oil and gas production. 3 Consistent with 1988 Autumn Statement. 4 Figures include sales by local authorities and new towns as well as central Government, and are consistent with the 1988 public expenditure White Paper.