§ Mr. Rowlandsasked the Chancellor of the Exchequer what contribution, in his estimate for public expenditure for 1981–82, was made by the forward sale of oil by the British National Oil Corporation; and what corresponding offset has been made in his public expenditure estimates for 1982–83.
§ Mr. GrayI have been asked to reply.
Forward oil sales are a matter for the commercial judgment of the British National Oil Corporation. For planning purposes, however, the assumption lying behind the Chancellor's statement on public expenditure on 2 December was that no forward oil sales would be carried out in 1981–82 and consequently that there would be no offset in 1982–83.