HC Deb 02 August 1978 vol 955 c401W
Mr. Skeet

asked the Chancellor of the Exchequer what he estimates would be the average Government take if petroleum revenue tax was increased from 45 per cent. to 60 per cent. and uplift under the Oil Taxation Act 1975 was reduced from 175 per cent. to 125 per cent.

Mr. Joel Barnett

Rather less than £4½ billion a year in the mid-1980s (at 1977 prices).