North Sea Oil Revenues

HC Deb 26 February 1981 vol 999 c423W

46. Miss Joan Lestor

asked the Chancellor of the Exchequer what are the anticipated revenues from North Sea oil for the year 1981–82.

Mr. Peter Rees

The Industry Act forecast last November included an estimate that the revenues from North Sea oil and gas in 1981–82 would lie in the range £4½ billion to £5 billion at 1980–81 prices. Revised estimates will be available at the time of the Budget.