HC Deb 06 July 1998 vol 315 cc359-60W
Mrs. Ewing

To ask the Secretary of State for Foreign and Commonwealth Affairs what percentage of oil revenue taxation from oil fields off the Falkland Islands will accrue to(a) the Falkland Islands authority and (b) the Treasury; and what the statutory or other basis is for this arrangement. [48343]

Mr. Tony Lloyd

Any oil revenues will accrue to the Falkland Islands Government. I discussed revenue sharing, should oil be found, with the Falkland Islands Councillors during a visit to the Islands in April. I welcomed their generous offer made in 1994 to share revenues from oil production with HMG and we agreed that we should now discuss arrangements for this in a spirit of cooperation and partnership.

Mrs. Ewing

To ask the Secretary of State for Foreign and Commonwealth Affairs what degree of autonomy the authorities in the Falkland Islands have in fiscal matters. [48342]

Mr. Tony Lloyd

Under Section 61 of the Constitution of the Falkland Islands, fiscal matters fall under the responsibility of the Governor as advised by the Islands Executive Council.