§ Mr. Lawsonasked the Chancellor of the Exchequer what was total Government tax and royalty revenue from North Sea oil in every quarter since the beginning of 1975; what was the revenue from
Year Quarter ending Royalties Corporation tax* Petroleum revenue tax Total £ million £ million £ million £ million 1975–76 … 30th June … — — — — 30th September … 10 — — 10 31st December … — 5 — 5 31st March … 10 — — 10 1976–77 … 30th June … — — — — 30th September … 20 — — 20 31st December … — 10 — 10 31st March … 55 — — 55 1977–78 … 30th June … — — — — 30th September … 100 — — 100 31st December … — 10 — 10 31st March … 130 — — 130 1978–79 … 30th June … — — — — 30th September … 145 — — 145 * Estimated proportion of corporation tax receipts attributed to North Sea oil and gas = Nil. The corporation tax revenue would have been the same in the above periods in the absence of petroleum revenue tax.