HC Deb 04 March 1948 vol 448 cc507-8
31. Sir Hugh Lucas-Tooth

asked the Minister of Fuel and Power what sums he has advanced to the National Coal Board under Section 26 of the Coal Industry Nationalisation Act, 1946; for what purposes such sums were required; and whether they have been expended.

Mr. Gaitskell

Up to 29th February, 1948, advances to the National Coal Board under Section 26 of the Coal Industry Nationalisation Act, 1946, to meet capital expenditure and to provide working capital, totalled £41,085,000. Of this sum £8,000,000 has been repaid to the Exchequer and I am informed by the Board that the remainder has been expended.

32. Sir H. Lucas-Tooth

asked the Minister of Fuel and Power whether he has consented to, or given general authority for, the borrowing by the National Coal Board of any sums under Section 27 of the Coal Industry Nationalisation Act, 1946; and how much of any such borrowing is now outstanding.

Mr. Gaitskell

I have given the National Coal Board a general authority, expiring On 3oth June, 1948, to borrow temporarily by way of overdraft or otherwise such sums as they may require provided that the aggregate of the sums outstanding at any time does not exceed £10 million. I have no information as to the amount of such borrowings outstanding.

33. Sir H. Lucas-Tooth

asked the Minister of Fuel and Power whether he has received any payments from the National Coal Board under Section 28 of the Coal Industry Nationalisation Act, 1946; and how much of any such sums represents principal and how much interest, respectively.

Mr. Gaitskell

Payments by the National Coal Board to the Minister under Section 28 of the Coal Industry Nationalisation Act, 1946, amount to £11,222,226 15s. 8d. of which £8,908,547 2s. 2d. represents repayments of principal and £2,313,679 13s. 6d. payments of interest.