§ 86. Mr. BENNETTasked the Financial Secretary to the Treasury if he can state exactly what is the loss to the State in connection with the operations of the British Dyestuffs Corporation, Limited; whether since the War there are any other undertakings of a similar nature in connection with which the State operations have shown a loss to the taxpayer; and, if so, what is the total amount of such loss in each case?
§ Mr. McNEILLThe capital loss arising out of the Government investment in the British Dyestuffs Corporation is £1,085,338. There was also a deficiency of interest on the Government's shares amounting in all to £716,975. As regards the second part of the question, there are, of course, numerous cases in which private undertakings financed by the Government for War purposes have failed to repay in full the funds advanced, or have been forced by difficulties, mainly arising from the industrial depression which started in 1920, to make arrangements with their creditors (including the Government) involving some possibility of loss to the latter. All losses definitely incurred by the Government (save the most trifling) have been shown in the notes appended to the yearly Appropriation Accounts, to which I would refer my hon. Friend.