§ Mr. Hendersonasked the Chancellor of the Exchequer if he will give (a) the total balance of payments current account surplus or deficit from March 1974 to April 1979, inclusive, and May 1979 to the latest available date, inclusive, and (b) the contribution of North sea oil and gas exploitation to the balance of payments for the same periods.
§ Mr. Bruce-GardyneBetween March 1974 and April 1979 the current account was £4.8 billion in deficit while between May 1979 and January 1983 the current account was £13.1 billion in surplus. It is not possible to provide a reasonable estimate of the contribution of North sea oil and gas to the balance of payments for the reasons given to my hon. Friend the Member for Nelson and Colne (Mr. Lee) on 23 February 1983.—[Vol. 37, c.451.]