§ Mr. SalmondTo ask the Chancellor of the Exchequer if he will set out in detail the assumptions he made about the oil price in preparing the 1989 Budget.
§ Mr. Norman LamontThe forecast published in the Financial Statement and Budget Report 1989–90 was prepared on the assumption that the North sea oil price would remain close to recent levels prevailing at that time.
§ Mr. SalmondTo ask the Chancellor of the Exchequer whether movements in oil prices since the 1989 Budget have caused any revision of the Budget forecasts and assumptions.
§ Mr. Norman LamontAs usual, the oil price assumptions will be reconsidered when my right hon. Friend prepares his next forecast to be published as part of the Autumn Statement.