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Indigenous Light Hydrocarbon Oils (Preference)

Volume 656: debated on Monday 26 March 1962

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asked the Minister of Power what plans he has for Government assistance to industry in respect of indigenous light hydrocarbon oils.

As the House knows, Her Majesty's Government is under international obligation to eliminate the duty preference of 1s. 3d. a gallon on indigenous light hydrocarbon oils. The Government therefore intend to ask Parliament to withdraw the preference not later than 1964. Representations from the industries concerned have been carefully considered, and the Government have decided they would not be justified in proposing a subsidy to replace the preference.