§ Mr. Austin Mitchellasked the Chancellor of the Exchequer if he will circulate a table in the Official Report comparing the latest forecast for capital and current account payments for North Sea oil and gas for the current financial year and for 1980–81, with the forecast made at the time of the June Budget or before that date.
§ Mr. LawsonForecasts for the direct contribution of North Sea oil and gas to the balance of payments were published in the Treasury's economic progress reports in August 1979 and in October 1978. The forecasts for 1979 and 1980 were as follows:
£ billion 1978 prices 1979 1980 Current Account October 1978* 5.0 6.3 August 1979 7.2 6.8 Capital Account October 1978* 1.0 0.4 August 1979 1.0 0.5 * Revalued to 1978 prices.