§ 31. Mr. Aitkenasked the Chancellor of the Exchequer what is the latest estimate of the North Sea oil yield; and how this compares with estimates given in 1977.
§ Mr. Denzil DaviesThe latest estimates of Government revenue from North Sea oil and gas in 1978–79 were given on 14th April 1978, by my right hon. Friend the Chief Secretary, in answer to my hon. Friend the Member for Ilford, South (Mr. Shaw). The yearly yield during the mid-1980s is now expected to be about £4 billion at 1977 prices. This compares with the estimate of £3½ billion at 1976 prices given during 1977.