§ Mr. DobsonTo ask the Chancellor of the Exchequer what would be the likely increased revenue in corporation tax paid by oil companies as a result of a $1 per barrel increase in the price of oil over a year.
§ Mr. MaudeIt is estimated that extra corporation tax receipts from the North sea from a sustained increase in the oil price of $1 per barrel would be about £50 million in a full year assuming no change in the exchange rate or in company spending in the North sea.