HC Deb 13 February 1956 vol 548 cc2063-4
35. Mr. Nabarro

asked the Minister of Fuel and Power what part of the moneys authorised by him in respect of new investment and borrowing powers for the nationalised electrical industry during 1955–56 is to be used for such commercial and sales promotional activities as appliance stocks and sales, including television and radio sets and other retail trading excluding generating, distribution and sale of electricity.

Mr. Aubrey Jones

For hire purchase less than 2 per cent. of total capital requirements, and negligible amounts for the other activities mentioned.

Mr. Nabarro

Yes, Sir, but would my right hon. Friend apply himself to the problem of the nationalised electricity industry now devoting increasing sums of money year by year to purely sales promotional activities of all these accessories and appliances? Why should the Treasury guarantee capital for enterprises of that kind, which are only at the expense of the area boards' private enterprise competitors?

Mr. Jones

My hon. Friend must not assume that I am not applying my mind to the problems of the Central Electricity Authority. Indeed, it may interest him to know that I am granting no new finance to the Central Electricity Authority for hire-purchase purposes for the financial year 1956 to 1957.