§ Sir William Clarkasked the Chancellor of the Exchequer what would be the reduction in revenue to the Exchequer if petroleum revenue tax were reduced from 75 per cent. to 70 per cent. in the fiscal year 1983–84.
§ Mr. WakehamOn the basis of the assumptions used for the forecast of North Sea tax revenues in the autumn statement, the cost of reducing petroleum revenue tax from 75 per cent. to 70 per cent. from 1 January 1983 would be about £200 million in 1983–84.