HC Deb 20 June 1979 vol 968 cc583-4W
Mr. Skeet

asked the Chancellor of the Exchequer whether he will relate petrol revenue tax to the real price of crude oil instead of the market price expressed in money terms and assess the tax at the wellhead rather than landed in the United Kingdom.

Mr. Peter Rees

I have noted my hon. Friend's suggestion.

Mrs. Renée Short

asked the Chancellor of the Exchequer what is the estimated petrol revenue tax yield for the current year; and how much petrol revenue tax has been paid into the Treasury since North Sea oil first began to flow.

Mr. Peter Rees

£730 million for 1979–80 and £449 million up to end May 1979.