§ 5. Mr. Ridsdaleasked the Minister of Power how much capital has been invested in the past 10 years in the coal industry; and what has been the percentage increase in the price of coal in these years.
§ 53. Mr. James Johnsonasked the Minister of Power if he will make a statement regarding the total amount of capital investmnet by the National Coal Board in the last 10 years; and what was the percentage increase in the cost per ton of coal during this period.
§ Mr. Frederick LeeExpenditure on fixed assets in the 10¼ years ended 28th March, 1964, totalled £981 million, in large part for replacement of existing assets. During this period average pithead proceeds and costs have risen by about 45 per cent.
§ Mr. RidsdaleIn spite of the rationalisation which has taken place in the coal industry, and, indeed, bearing in mind the capital employed, do not these figures underline the fact that the time has come for an urgent independent inquiry into the structure of the nationalised industries? When the Parliamentary Secretary said that the time had not come for the gas industry, did he have in mind other industries where there might be an inquiry into the capital structure?
§ Mr. LeeI see no reason why there should be any inquiry of this type. We look at the structure from time to time. I think that, on the whole, industries in the nationalised power section are among our most successful industries.
§ Mr. LoughlinWould it not be a good idea seriously to consider ceasing to pay compensation to those owners of coal mines whose pits are now closed?
§ Sir P. RobertsIn view of the price increases which the Minister has announced, would he take note of the exhortations of his right hon. Friend the First Secretary of State and Secretary of State for Economic Affairs and give a direction to the National Coal Board that it should absorb its costs and not increase the price of coal this year?