Written question asked by Clare Short (Independent Labour) on Thursday, 25 February 2010, in the House of Commons. It was due for an answer on Wednesday, 3 March 2010. It was answered by Michael John Foster (Labour) on Wednesday, 3 March 2010 on behalf of the Department for International Development.

Falkland Islands: Oil

Question: To ask the Secretary of State for International Development if he will apply the rules of the extractive industries transparency initiative in relation to any oil that may be discovered in the Falkland Islands.

Answer: If oil is discovered in the Falkland Islands, any revenues generated will be subject to the same rules applied by the UK Government to other revenue received from extractive industries.The UK Government publish all information on revenue received from oil and gas industries, including taxation revenues and this available on the HM Revenue and Customs website at"http://www.hmrc.gov.uk/index.htm"The UK practice of disclosure of revenue information is in line with the principles of the Extractive Industries Transparency Initiative.

Secondary information