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Oil And Gas Revenue

Volume 113: debated on Wednesday 25 March 1987

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asked the Chancellor of the Exchequer whether he will publish in the Official Report a table showing the amount of revenue collected each year from 1979, inclusive from the production of North sea oil and gas as (a) royalties, (b) petroleum revenue tax, (c) corporation tax and (d) other taxes.

The latest figures for Government revenues from United Kingdom oil and gas production in each year from 1979–80 are as follows:1987–88 of ending the exemption for life assurance, pension and other funds of

(a) income tax and (b) capital gains tax;

(2) whether he will publish in the Official Report his estimate of the saving to the Exchequer in 1987–88 of ending the tax exemption on the interest paid on guilt-edged securities to overseas residents.