§ Mr. Rostasked the Secretary of State for Energy if he can outline the basis on which he calculated, in the Energy Policy Review memorandum to NEDC, that the annual turnover of over £11 billion by the energy industries, forms only 5 per cent. of the GDP.
§ Dr. John A. CunninghamThe proportion of GDP accounted for by the energy industries depends on their net output—or value added—whereas their turnover corresponds broadly to their gross output.
§ Mr. Rostasked the Secretary of State for Energy if he will make a statement outlining the strategy proposed in paragraph 52 of the Energy Policy Review memorandum presented to NEDC, which 475W suggests that revenues from North Sea oil and gas might be used for investment in other energy sectors and energy conservation.
§ Dr. John A. CunninghamThe Government are examining how best the nation might benefit from the use of the resources and Government revenues available from exploitation of North Sea oil and gas. Investment in the energy sector and in energy conservation will be one important claim on these resources.