12. Mr. Gresham Cookeasked the Minister of Power what proportions of the capital expenditure programmes up to 1961–62 of the National Coal Board and Gas Council, respectively, will be met out of the internal resources of the boards.
§ Mr. WoodI must ask my hon. Friend to await the White Paper on borrowings which will be published in the spring and will give information about 1960–61 and 1961–62.
Mr. CookeIf the White Paper on the investment programme is to be followed, it would appear that the National Coal Board will be able to finance only a small proportion of its capital expenditure. Does not this indicate that the closest scrutiny of its capital expenditure is needed, particularly in view of the case reported this morning 9 of a power station, built in Derbyshire at a cost of £500,000, which is to be pulled down after six weeks of use?
§ Mr. WoodI certainly think that it is very necessary for us to pay great attention to these affairs, but it is impossible to work out the problems of self-financing until rather more information is available. I hope that it will be available by the time of the spring White Paper.