§ 53. Mr. Kennedyasked the Chancellor of the Exchequer what recent representations he has received seeking alterations to the fiscal regime in so far as it affects the North Sea; and if he will make a statement.
§ Mr. Norman LamontSince the Budget, 11 letters have been received seeking alterations to the fiscal regime following the fall in oil prices. These have been studied with interest, but we remain to be convinced that any relaxation is needed to a regime which is already sensitive to oil price movements.