§ Mr. Brothertonasked the Secretary of State for Energy whether it is his intention, by virtue of the proposals for a 330W floor price of oil, to attempt to maximise Government tax revenue.
§ Mr. John SmithThe purpose of the proposals which have been under discussion in the International Energy Agency and the EEC is to encourage investment in the indigenous energy resources of the countries participating in the scheme. If the world price of oil dropped below the level of the floor price there might be a consequent effect on Government revenue.