Asked by: Richard Burgon (Labour - Leeds East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the total North Sea oil and gas receipts to Treasury was in (a) 2019-20, (b) 2020-21 and (c) 2021-22; what the estimated total North Sea oil and gas receipts to the Treasury in (i) 2022-23, (ii) 2023-24, and (iii) 2024-25; and what estimate he has made of the total revenues of North Sea oil and gas companies in each of those years.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
Forecasts for government revenues from oil and gas production are provided by the Office for Budget Responsibility (OBR). Their most recent published forecast, provided for Spring Statement 2022 on 23 March, is available on the OBR website at https://obr.uk/efo/economic-and-fiscal-outlook-march-2022/.
Government revenues received from North Sea oil and gas operators between 1968 to 1969 and 2020 to 2021 are presented in Table 2 of HM Revenue & Custom’s (HMRC) “Statistics of government revenues from UK oil and gas production” publication, available at https://www.gov.uk/government/statistics/government-revenues-from-uk-oil-and-gas-production--2
Data for 2021 to 2022 onwards can be found in the “HMRC tax receipts and National Insurance contributions for the UK” tables, also available at
https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk