HC Deb 13 October 1942 vol 383 cc1473-4
23. Mr. Stokes

asked the Minister of Fuel and Power whether he has yet any statement to make regarding the disposal of profits made by the Petroleum Board?

The Minister of Fuel and Power (Major Lloyd George)

Agreement has been reached with the Petroleum Board on several points, including the rate of return, on the capital employed which has been' fixed at 7½ per cent. The main question outstanding is the valuation of the capital on which the return of 7½ per cent. will be payable, and this valuation raises difficult questions of accountancy. I expect agreement on these to be reached very shortly.

Mr. Stokes

Will the Minister be able to make a statement to the House in the near future as to the capital employed in the business, so that the House may judge whether the 7½ per cent. is fair or not? Without a knowledge of the capital employed, the figure means nothing.

Major Lloyd George

Yes, Sir.