Written question asked by Lord Barnett (Labour), in the House of Lords. It was answered by Lord Davies of Oldham (Labour) on Wednesday, 21 May 2008.

Pre-Budget Report: North Sea

Question: asked Her Majesty's Government:What revenues (if any) accrue from the North Sea in addition to those in table B8 in the 2007 Pre-Budget Report (Cm 7227).

Answer: The North Sea revenues line in table B8 of the 2007 Pre-Budget Report includes all direct tax revenues accruing to the Government from profits made from oil and gas production. The breakdown of these revenues can be found in more detail in HM Revenue and Customs statistics at table 11.11, which is published on the HMRC website at www.hmrc.gov.uk/stats/corporate_tax/table11-11.pdf. In addition the Government, through the Department for Business, Enterprise and Regulatory Reform, also collect licence fees from licence holders. In 2007-08 these amounted to £60 million.

Secondary information

Type: Written question
Reference: 3645; 701 c201-2WA
Session: 2007-08
Subjects: Fees and charges Licensing Natural gas Production Tax yields North Sea oil
Contains statistics: Yes
Link: View this Written question on www.publications.parliament.uk