§ 15. Mr. Ridsdale
asked the Paymaster-General how much money the nationalised electricity industry has received from public funds since 1951.
§ The Paymaster-General (Mr. Reginald Maudling)
A total of £197 million has been advanced to the industry under the provisions of Section 42 of the Finance 674 Act, 1956. Before this Act was passed the industry had borrowed mainly by the issue of stock.
§ Mr. Ridsdale
Would my right hon. Friend say how much of the capital raised since 1951 for the nationalised industry has been raised by taxes and how much by price increases? While we recognise that deficit financing is inflationary, may I ask my right hon. Friend whether he is aware that the public is becoming more and more frustrated by the failure of the nationalised boards to keep down their production costs?
§ Mr. Maudling
I do not think any of the money has been raised by taxes. In the last two years the proportion of capital finance coming from internal sources was about 35 to 36 per cent.
§ Mr. H. Hynd
Can the Minister say how this amount compares with the amount received by the agricultural industry, the shipping industry and the aircraft industry?