§ Mr. Woolmerasked the Chancellor of the Exchequer 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.
§ Sir Geoffrey Howe[pursuant to his reply,21 April 1980, c.22]: Following are the figures:
Year £ billion (1980–81 prices) 1978–79 1 1979–80 2½ 1980–81 4 1981–82 4½ 1982–83 6½ 1983–84 6½
§ Mr. Woolmerasked the Chancellor o the Exchequer if he will give estimates of the total revenues to be obtained from North Sea oil and gas in each of the year; 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.
§ Sir Geoffrey Howe[pursuant to his reply,21 April 1980, c. 22]: No. Calculation of such estimates would be inordinately expensive.
§ Mr. Woolmerasked the Chancellor of the Exchequer, 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.
§ Sir Geoffrey Howe[pursuant to his reply,21 April 1980 c. 22]: No. It is not the practice to do so.
§ Mr. Woolmerasked the Chancellor of the Exchequer, 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 or production of North Sea oil and gas used in making the estimates of revenue.
§ Sir Geoffrey Howe[pursuant to his reply,21 April 1980, c. 22]: No.