§ 39. Mr. Nealasked the Paymaster-General to what extent he will sanction any further borrowings by the National Coal Board to finance the stocking of coal.
§ Mr. MaudlingThe National Coal Board's borrowings are subject to statutory limits. If these are likely to be inadequate either because of stocking or for any other reason, the approval of the House will be sought to the necessary extension.
§ Mr. NealCan the right hon. Gentleman say whether this is yet another matter on which the Government have not yet made up their mind? What is the ceiling beyond which it would be considered uneconomic to stock more coal?
§ Mr. MaudlingThe Question asks whether we will sanction any further borrowings, and my answer makes it clear that we have made up our mind that we will sanction further borrowings if the House approves, and if it becomes necessary.
§ 46. Mr. Warbeyasked the Paymaster-General to what extent, on the basis of current trends in supply and demand he anticipates that his target of 3 million tons of coal added to colliery stocks during 1959 will be exceeded.
§ Mr. MaudlingUndistributed stocks are now expected to rise by about 7 million tons this year.
§ Mr. WarbeyWill the Minister take into account the fact that excess stocking results in a substantial increase in cost, and does not this add greatly to the argument in favour of reducing opencast coal mining?
§ Mr. MaudlingI do not think any further cut in opencast coal is possible, for reasons which have been explained to the House on a number of occasions.