§ Mr. Deakinsasked the Chancellor of the Exchequer what has been the total contribution to central Government funds of revenues from North sea oil and gas in the period up to May 1979 and subsequently.
§ Mr. MooreThe total tax take from oil and gas extraction in the United Kingdom and in the North sea—that is royalties, petroleum revenue tax (including advance payments), supplementary petroleum duty and ring fence corporation tax (before ACT set-off)—in the period up to May 1979 was £970 million. From May 1979 to the end of 1983–84, total tax take was £29.3 billion.