§ Mr. Denzil Daviesasked the Chancellor of the Exchequer whether he will give a breakdown of the figure of £3,000 million a year income in oil from which the British economy has benefited referred to in the speech of the Lord President of the Council in the House of Lords on 16 May.
§ Mr. BiffenThe Treasury's economic progress report for October 1978 carried the following estimates for the income arising from offshore oil and gas production.
£ billion at 1977 prices 1978 1979 Oil and gas sold 3.4 5.3 Less Goods and services bought outside the sector 0.4 0.5 Less Interest profits and dividends due abroad 0.8 1.2 GNP at market prices arising within the sector 2.2 3.5 Updated estimates will be published in due course.