§ 64 and 65. Sir H. BRITTAINasked the Postmaster-General (1) the exact amount of the adjusted net revenue, surplus or deficit, on the telegraph and telephone services for each of the years from 1912-13, inclusive; (2) the amount of provision actually made in the Estimates of the Post Office for the depreciation of telephone and telegraph plant and buildings during the current year; and what were the corresponding amounts for the financial years 1913–14, 1914–15, 1916–17, and 1918–19?
§ Mr. ILLINGWORTHI will circulate in the Official Report a statement giving the figures required in this and the following question.
§ The following is the statement referred to:
§ The balances of the Telegraph and Telephone Net Revenue Accounts of the Post Office as shown in the published Commercial Accounts are as follows:—
| Year. | Telegraph. | Telephone. | |
| £ | £ | ||
| 1912–13 | … | -1,175,347 | 303,343 |
| 1913–14 | … | -1,211,742 | 239,111 |
| 1914–15 | … | -1,232,955 | -111,018 |
| 1915–16 | … | -520,047 | -118,177 |
| 1916–17 | … | -529,639 | 201,729 |
| 1917–18 | … | -556,330 | 355,468 |
§ These balances were arrived at after charging interest, etc.
§ From the year 1914–15 onwards they are affected by abnormal war conditions.
§ The amounts provided for plant depreciation in the Telegraph and Telephone Commercial Accounts of the Post Office are as follows:—
| Year. | Telegraph. | Telephone. | |
| £ | £ | ||
| 1913ߝ14 | … | 268,623 | 1,471,320 |
| 1914ߝ15 | … | 271,510 | 1,613,678 |
| 1915ߝ16 | … | 282,031 | 1,730,526 |
| 1916ߝ17 | … | 287,618 | 1,753,241 |
| 1917ߝ18 | … | 293,644 | 1,781,891 |
§ The cost of renewals in the same period is given below. It should be explained that during the War years the expenditure on renewals was kept as low as possible, and that as a considerable part of the plant is comparatively new the charge for renewals is much below the provision for depreciation.
| Year. | Telegraph. | Telephone. | |
| £ | £ | ||
| 1913–14 | … | 117,333 | 633,975 |
| 1914–15 | … | 124,532 | 739,784 |
| 1915–16 | … | 88,712 | 705,497 |
| 1916–17 | … | 129,955 | 508,417 |
| 1917–18 | … | 108,339 | 465,731 |
§ As regards buildings, the charge for depreciation against the Telegraph and Telephone Accounts is included in the rentals, which are based on user.
§ 66. Sir H. BRITTAINasked the Postmaster-General the estimated depreciation of the securities held by the Post Office as assets against the liability to depositors in the Post Office Savings Bank; and what provision has been made to offset this depreciation?
§ Mr. ILLINGWORTHI beg to refer the hon. Member to the answer given by my right hon. Friend the Chancellor of the Exchequer to a question on this subject put on the 7th May by the hon. Member for Worcester.