HC Deb 21 April 1980 vol 983 cc21-2W
Mr. Woolmer

asked the Chancellor of the Exchequer (1) if he will give estimates of the total revenues to be obtained from North Sea oil and gas in each of the years 1978–79 to 1983–84 in present day prices and assuming that the future dollar oil price remains constant in real terms at its present level;

(2) if he will give estimates of the total revenues to be obtained from North Sea oil and gas in each of the years 1980–81 to 1983–84 on the assumption that the dollar oil price increases by (a) 10 per cent. per annum, and (b) 20 per cent. per annum;

(3) pursuant to the answer given to the hon. Member for Batley and Morley on 14 April on North Sea oil and gas revenues for the years 1978–79 to 1983–84 on 1978–79 prices, if he will give the breakdown of those revenues into the components of royalties, petroleum revenue tax and corporation tax;

(4) pursuant to his reply to the hon. Member for Batley and Morley on 14 April regarding North Sea oil and gas revenues for the years to 1983–84, if he will give the assumed level of production of North Sea oil and gas used in making the estimates of revenue.

Sir Geoffrey Howe

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