---

Budget Resolutions and Economic Situation

I thank the Secretary of State for giving way again. Does he recognise that a lot of that extra investment came about because of a very high oil price throughout the world? The gas price is now dropping, which is obviously benefiting users. However, when oil is extracted, gas is often extracted at the same time, so the North sea price is effectively dropping. The Chancellor made it clear that the original tax increase was predicated on the very high prices around the world. Given that gas prices are falling, costs are rising dramatically and fields are getting smaller—moreover, the projected forward investment from the industry appears lower—the Government have to be careful not to kill the goose that lays the golden egg.