HC Deb 14 November 1955 vol 546 cc23-4
36. Mr. E. Johnson

asked the Minister of Fuel and Power the total amount of new capital introduced into the coal mining industry in Great Britain since 1952.

The Minister of Fuel and Power (Mr. Geoffrey Lloyd)

Capital expenditure has been about £253 million, of which £179 million has been financed by new borrowing.

Mr. Johnson

Can my right hon. Friend hold out any hope of the country getting any return on this enormous investment of capital in the shape of more coal?

Mr. Lloyd

That is a different question, but I would remind my hon. Friend that coal is an extractive industry and that, in the absence of new investment, capacity for the production of about 5 million tons of coal a year would be lost. That has to be made up before there is a gain.

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