Increase of Petroleum Revenue Tax

Part of Orders of the Day — FINANCE (No. 2) BILL – in the House of Commons at 9:15 pm on 4th June 1980.

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Photo of Mr Timothy Eggar Mr Timothy Eggar , Enfield North 9:15 pm, 4th June 1980

Will the hon. Gentleman confirm that it is Labour Party policy that a Labour Government would auction blocks in the North Sea? That is the implication of what he has been saying Will he consider going even further than that and stating categorically that if they are auctioned no discretion will be retained by a future Labour Government as to which oil companies would be given the blocks if they bid the highest amount?