§ Mr. Skeetasked the Chancellor of the Exchequer, for every 10 point drop in the pound sterling against the United States dollar, what additional benefit accrues to the revenue from North sea oil.
§ Mr. Moore[pursuant to his reply, 16 July 1984]: The marginal increase in North sea tax revenues which would result from a drop of 1 cent. in the dollar/sterling exchange rate for a year is estimated to be about £100 million. For the purposes of this estimate, it has been assumed that the appreciation of the dollar has no effect on dollar oil prices.