§ Mr. Skeetasked the Chancellor of the Exchequer whether, before introducing any new Bill affecting oil taxation, he will seek to consolidate and rationalise the following legislation: Oil Taxation Act 1975, Finance (No. 2) Act 1979, sections 18–22, Petroleum Revenue Tax Act 198C and Finance Act 1980, sections 104–109 and appropriate schedules.
§ Mr. Peter ReesIt will rot be practicable to introduce consolidating legislation within this time scale. But the inland Revenue intends to produce a single volume compilation of the relevant legislation before the next Finance Bill.