HC Deb 26 April 1937 vol 323 cc30-1
48. Sir C. Edwards (for Mr. Jenkins)

asked the Prime Minister whether the special tribunal on the valuation of mining royalties has concluded its sittings; when its report will be ready for submission to the Government; and whether it will be available to Members of the House before the Government reach any decision upon the legislation proposed with regard to the nationalisation of mining royalties?

The Prime Minister (Mr. Baldwin)

Yes, Sir. The tribunal has given an award to the effect that 15 is the appropriate number of years' purchase to be applied to the agreed royalty income figure of £4,430,000. The compensation payable under the terms of the award will therefore be £66,450,000. The Government have decided to accept the award, and they intend to introduce the necessary legislation as soon as possible.