Petroleum Revenue Tax

HC Deb 29 January 1981 vol 997 c503W

43. Mr. Penhaligon

asked the Chancellor of the Exchequer what extra income from petroleum revenue tax will accure from the latest increase in oil prices.

Mr. Brittan

Any increases in North Sea oil prices will be taken into account in the revised estimates of total Government take from the North Sea which will be given at the time of the Budget.

44. Mr. Colvin

asked the Chancellor of the Exchequer what progress has been made towards improving equity investment in small trading business by the introduction of provisions based on tax incentives for the individual.

Mr. Lawson

I refer my hon. Friend to the reply I gave earlier today to my hon. Friends the Members for Brighouse and Spenborough (Mr. Waller) and Hertfordshire, South-West (Mr. Page).