HC Deb 12 March 1979 vol 964 cc74-5W
Mr. David Price

asked the Chancellor of the Exchequer what is his estimate of the contribution of North Sea gas and North Sea oil, respectively to the United Kingdom balance of payments in the current year.

Mr. Joel Baraett

I shall let the hon. Member have a reply as soon as possible.

Mr. Lawson

asked the Chancellor of the Exchequer further to the written answer to the hon. Member for Reigate (Mr. Gardiner), Official Report, 13 February, c. 509–11, if he will publish estimates of the current account surplus or deficit on non-oil trade in constant prices for each year since 1973 and for all the quarters of 1978 for which information is available.

Mr. Joel Barnett

The information is as follows:

Balance on trade in goods less oil
£ million. 1975 prices
Balance of payments basis
1973 −1,401
1974 −626
1975 −129
1976 +339
1977 +677
1978 −278

Quarterly information on this basis for 1978 is not available. Estimates for the whole of the current account excluding trade in oil are not available in constant prices.

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