§ Mr. MullinTo ask the Chancellor of the Exchequer if he will give details of North sea oil revenue accruing to the Government from all sources for each year since 1979.
§ Mr. Norman Lamont[holding answer 29 November 1988]: The latest figures for Government revenues from United Kingdom oil and gas production in each year from 1979–80 are as follows:
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£ million Royalties Petroleum Revenue Tax1 Corporation Tax before ACT set-off Supplementary Petroleum Duty 1979–80 628 1,435 250 — 1980–81 992 2,410 341 — 1981–82 1,396 2,390 681 2,025 1982–83 1,632 3,274 521 2,395 1983–84 1,904 6,017 877 — 1984–85 2,426 7,177 2,425 — 1985–86 2,057 6,375 2,917 — 1986–87 919 1,188 2,683 — 1987–88 1,024 2,296 1,350 — 1 Including advance payments