§ 32. Mr. James Lamondasked the Chancellor of the Exchequer what is the estimated revenue to the Treasury from North Sea oil during the present financial year.
§ Mr. DellTax on profits of the oil landed this year will not be received until after the end of the present financial year. I expect that payments of oil royalties in the financial year ended 31st March 1976 will come to £0.3 million. These are provisional payments, subject to later adjustments.