Capital Investment

HC Deb 01 July 1957 vol 572 cc680-1

21. Mr. Ridsdale

asked the Paymaster-General how much capital has been invested in the coal industry since 1951.

Mr. Maudling

During the five years 1952–56 the National Coal Board invested about £387 million.

Mr. Ridsdale

Would my right hon. Friend say how much of the present price increase will go towards raising capital? Is it not possible to find some means of raising capital other than increasing the price of coal, which in itself is inflationary?

Mr. Maudling

The Coal Board has made it clear that even with this increased price it expects to realise only a fairly small surplus for 1957, and it is that small surplus alone which will be put towards financing the capital expansion of the industry.

Mr. Nicholson

Could my right hon. Friend say what proportion of that capital investment was primarily financed out of the floating debt and what proportion out of the funded debt?

Mr. Maudling

I do not think I can give an accurate answer to that question without notice.