HC Deb 28 July 1960 vol 627 c1858
24. Mr. C. Osborne

asked the Minister of Education, as representing the Minister for Science, how much money will be lost by the Atomic Energy Authority on carrying unused stockpiles resulting from the slow-down of the atomic power programme, and over how many years; and if he will make a statement.

Sir D. Eccles

The slow-down of the atomic power programme will result in the Authority carrying large stocks of uranium. The cost of storage is small, but it is estimated that the annual interest on the capital locked up in the additional stocks may amount to several million pounds. Present estimates indicate that the Authority's current and prospective uranium supplies may last for about ten years; their exact duration will depend upon factors which cannot be estimated accurately at present.

Mr. Osborne

I recognise that my right hon. Friend cannot give full details because of public security, but will he, within those limits, assure us that there is no unnecessary waste of public money involved in this policy. Will he do his best to avoid such a waste?

Sir D. Eccles

I will certainly convey to my noble Friend what my hon. Friend has said.