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Oil Revenue

Volume 12: debated on Wednesday 11 November 1981

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asked the Chancellor of the Exchequer what is the current level of the United Kingdom North Sea oil revenue.

Government revenues—comprising royalties, supplementary petroleum duty, petroleum revenue tax and corporation tax before ACT set-off—from North Sea oil and gas production for 1981–82 were estimated at the time of the Budget to be £5,880 million.