28. Mr. Gresham Cookeasked the Minister of Aviation what proportion of the capital expenditure programmes up to 1961–62 of British Overseas Airways Corporation and British European Airways, respectively, will be met out of the internal resources of the corporations.
§ Mr. RipponOver the twelve years from 1947 to the end of 1959–60, the proportion of capital expenditure met from internal resources has been about 42 per cent. in the case of B.O.A.C. and 39 per cent. in the case of B.E.A.
I would not expect the inclusion of the years 1960–61 and 1961–62 to make much difference to these percentages.
Mr. Gresham CookeDoes my hon. Friend agree that, whatever else is happening in other nationalised industries, we are trying to run these two Corporations as effective business corporations? [HON. MEMBERS: "Who are 'we'?"] The Government. [HON. MEMBERS: "Oh."] Therefore, is it not very desirable that in all future programmes they should be as self-financing as possible?
§ Mr. RipponIt is true that the Corporations have financed and will continue to finance a substantial proportion of their investment programmes out of their own internal resources.