Below is the text of Mr Major’s written Parliamentary Answer on North Sea Oil on 8th June 1989.
Mr. Flannery To ask the Chancellor of the Exchequer what is the total amount of money received by the Exchequer from North sea oil since May 1979.
Mr. Major Total tax revenues and royalties to United Kingdom oil and gas production over the fiscal years 1979–80 to 1988–89 are estimated at £65.2 billion. Receipts from the gas levy over the same period amounted to a further £3.8 billion. Further details are contained in the report by the Secretary of State for Energy to Parliament of April 1989 (the Brown Book).