§ Mr. Adleyasked the Chancellor of the Exchequer if, in the light of the latest increase in benefits, he will seek to treat all income from benefit as income for tax purposes; and if he will make a statement.
§ Mr. Robert SheldonI have noted the hon. Member's suggestion.
§ Mr. Biffenasked the Chancellor of the Exchequer if he will set out in the 650W Official Report the Treasury's revised estimates for the contribution to the balance of payments from North Sea oil, taking account of the likely increased yield from the Forties, Piper and Claymore fields.
§ Mr. Robert Sheldon, pursuant to his reply [Official Report, 15th November 1976; Vol. 919, c. 377], circulated the following answer:
The balance of payments effects of North Sea oil production will depend on the performance of all fields. It is not proposed to revise the estimates of these effects published in the Treasury's "Economic Progress Report" of July 1976 at this stage. This indicated that by 1980 the net advantage to the overall balance of payments would be some £5,800 million at current prices.