§ 6. Mr. Darlingasked the Paymaster-General what is the total sum paid in interest on capital and loans by the Gas Council and gas boards in the 10 years, 1949 to 1958.
§ Mr. MaudlingAbout £120 million.
§ Mr. DarlingWould not the Paymaster-General agree that this industry is expanding, that it is flourishing, that 861 it is in a very satisfactory financial position? Can he, therefore, tell us what the Prime Minister meant when he said in this House a short time ago that this industry was not paying its way?
§ Mr. MaudlingI do not know the reference which the hon. Gentleman makes. The fact is that the gas industry is having a stiff fight with competition from other fuel industries. We all hope it will be successful. That is why, among other things, we encourage many of its experiments, which seem rather unpopular on the benches opposite.
§ 7. Mr. Darlingasked the Paymaster-General what is the total sum paid in interest on capital and loans by the Electricity Authority and the electricity boards in the 10 years 1949 to 1958.
§ Mr. MaudlingAbout £340 million, excluding the North of Scotland Hydro-Electric Board and the South of Scotland Electricity Board since it was constituted in 1955.
§ Mr. DarlingIt is a far from negligible figure. Would the Paymaster-General agree that the electricity supply industry is very progressive and very well managed and obviously in a good financial position? As he and his noble Friend have a responsibility for these industries, may I ask whether either he or his noble Friend or both protested when the Prime Minister and the Chancellor of the Exchequer made those untruthful observations on the industries for which they have responsibility?
§ Mr. MaudlingOnce again, I do not know the reference which the hon. Gentleman makes. The fact is that the electricity industry is doing a good job, but to go into a complete analysis of the comparative strengths and the comparative weaknesses of this and the other nationalised industries at Question Time would not be very easy.
§ Mr. J. GriffithsSince the Chancellor of the Exchequer and hon. and right hon. Gentlemen opposite use such words to describe the coal industry when its productivity is higher than it has ever been, what words would they have used to describe its condition in the 'thirties?
§ Mr. NabarroWould my right hon. Friend explain to right hon. and hon. 862 Gentlemen opposite that there is no business in the world which does not have to pay interest or dividends or both upon its issued capital? Why should the nationalised industries be an exception in that regard?
§ Mr. ShinwellIs it not quite clear from the Answers which the right hon. Gentleman has now given to these Questions that all the nationalised industries referred to have not only paid in full their debts to the Government but have met all their commitments to the previous owners of the property?
§ Mr. MaudlingThe fact is that with the assistance of the Government guarantee they have, of course, obtained their capital at lower rates than they would have done without the Government guarantee.
§ Mr. DarlingIn view of the unsatisfactory Answers, I give notice that I shall raise the matter again on the Adjournment.