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Exchange Rates And Oil Price Assumptions

Volume 82: debated on Tuesday 2 July 1985

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asked the Chancellor of the Exchequer if he will publish the assumptions used by Her Majesty's Government for the exchange rate and oil price in their forecast of oil revenues in the Financial Statement and Budget Report.

[pursuant to his reply, 27 June 1985. c. 493]: North sea revenues depend on a range of factors such as oil production and company expenditures as well as oil prices and the exchange rate. The FSBR (pages 8–9) noted that the medium-term projections of oil revenues were based on the assumptions of falls in oil production and in real oil prices, and no major change in the sterling exchange rate index from year to year.