HC Deb 26 February 1962 vol 654 cc915-6
6. Mr. Nabarro

asked the Minister of Power whether he will state the cumulative loss forward of the National Coal Board to 31st December, 1961; what estimate he has made of profits or losses for 1962; what borrowings have been made by the Board under the December, 1961, Act; and whether he will now make a statement on the National Coal Board's finances.

Mr. Wood

The final accounts for 1961 are not yet available, and I cannot therefore give precise figures. The cumulative deficit is rather more than £90 million and the advances made towards it under the 1961 Act something over £30 million. With regard to 1962 and future years, I am at present reviewing with the Board its financial position and prospects, and I have promised to make an announcement when that review is complete.

Mr. Nabarro

Why is my right hon. Friend a different kind of creature from the Minister of Transport? Is he not aware that, in the context of the railways, the Minister of Transport gave me the estimated loss forward up to approximately the date of the Budget? How does my right hon. Friend expect me to support the Chancellor's economic policies if he cannot tell the House of Commons how much money this fledgeling industry, the National Coal Board, is likely to lose in the current financial year? Really, his is a preposterous reply.

Mr. Wood

I cannot comment on the essential differences between my right hon. Friend to myself, but, in fact, I always try to give my hon. Friend as much helpful information as I possibly can. I cannot tell him now what will be the precise financial position of the National Coal Board this year, but he will have seen certain statements from the Chairman of the National Coal Board which should give him a rough idea.

Mr. Nabarro

But does my right hon. Friend agree with those statements?

Mr. Speaker

I have called Mr. Gunter.

Mr. Gunter

May I, through the Minister, congratulate the hon. Member for Kidderminster (Mr. Nabarro) on being such a deft flatterer?

Mr. Speaker

I do not think the Minister is responsible for such activities as that.

Mr. H. Hynd

For the purpose of comparison, could the Minister give the House the amount of the subsidies paid to the private owners of coal before nationalisation?

Mr. Wood

I think that would need another Question.

Mr. Nabarro

May I have the information before the Budget, Sir.

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