The right hon. Gentleman asked me in the first place whether it was the case that there was a diversion of supplies by the major oil companies to European markets. The major oil companies, in my understanding, are obliged to—and do—strictly observe the injunction given to them by the Arab States about oil destinations. There is no question of the diversion to which the right hon. Gentleman referred.

The right hon. Gentleman asked me about my attitude to the international companies, having regard to remarks made by Mr. Wagner, of the Royal Dutch Shell Group of Companies. I do not know what the attitude of those companies may be. It is not my business. But I imagine that he would agree with me that most international companies would regard their primary responsibility as being to respect their contracts. I am sure that that is what the companies are doing. They would naturally be obliged to comply with instructions given them, which were legally binding upon them, so that they would have to do that, but in other terms they would certainly comply with their contracts. I hope that both sides of the House would regard that as being the normal and moral attitude of British business.

I was asked about regional policy. I proposed that it would be right for the regional development fund, which is proposed to be set up on 1st January 1974, to provide for the sum of 3,000 million units of account over a three-year period. That proposal did not receive instant agreement in the Council of Ministers. However, there was a considerable body of support for my proposals, as there was a certain body of antagonism to them. But these matters remain for further discussion and negotiation. It is impossible for me now to reply to the right hon. Gentleman's question about the relationship of the setting up of the regional development fund with that of the controlling of national aids. The matter is still under discussion and, therefore, I cannot tell the right hon. Gentleman of any such decision.

As for setting up the regional development fund and its relationship to the second stage of economic and monetary union, it is confidently believed that both of these recommendations of last year's Summit meeting in Paris will be brought to effect by 1st January 1974.

When the right hon. Gentleman makes reproaches on the subject of how these matters are handled in this House, my mind goes back to the time when the Select Committee, on which I believe the right hon. Gentleman served with distinc- tion, was not able for a long time to get down to its business through the actions of the Opposition. It has not been the case that the Government have been dilatory in handling these matters. By and large, the right hon. Gentleman's general strictures, which we have grown accustomed to hearing and have at times become rather tired of hearing, wear very thin.