HC Deb 26 April 1966 vol 727 cc518-9
6. Mr. Patrick Jenkin

asked the Minister of Power what steps the Government have taken, pursuant to recommendation 69 (v) of the Twelfth Report of the National Coal Board for Prices and Incomes, to assume greater responsibility for identifying and critically examining the assumptions on which the forecast of yield on new investment by the National Coal Board in diversification projects is based.

Mr. Marsh

This is a matter which I have under consideration and intend to discuss with the National Coal Board.

Mr. Jenkin

Will the right hon. Gentleman go ahead with this? Does he not realise that it is essential that there should be an accurate appraisal of investment projects, and could not the nationalised industries be giving a lead in such technique as the use of discounted cash flow and similar matters?

Mr. Marsh

I can only say that we are discussing this with the National Coal Board. We regard this as an important issue and are getting ahead with it as fast as we can. We have only got through the first two weeks so far.