North Sea Oil Revenues (Hansard, 27 January 1986)

HC Deb 27 January 1986 vol 90 c408W 408W

§ Mr. Teddy Taylor
asked the Chancellor of the Exchequer if he has revised the forecast of North Sea oil revenues set out in the Autumn Statement in consequence of the recent changes in the price of oil; and if he will make a statement.

§ Mr. Moore
Recent changes in the oil price will have little effect on the Autumn Statement forecast of Government revenues from United Kingdom oil and gas production in 1985–86 since these revenues are dependent mainly on the price of oil delivered in the period up to the end of 1985. Provisional estimates of Government revenues from United Kingdom oil and gas production in 1985–86 will be published in the 1986–87 financial statement and Budget report.