HC Deb 26 July 1966 vol 732 cc1422-3
20. Mr. Patrick Jenkin

asked the Minister of Power what steps Her Majesty's Government has now taken, pursuant to recommendation 69(v) of the Twelfth Report of the National 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.

The Minister of Power (Mr. Richard Marsh)

This is being pursued in the course of this year's review of the National Coal Board's investment programme.

Mr. Jenkin

Would not the right hon. Gentleman recognise that three months ago to this date he admitted that he regarded this matter as of great importance which must be pursued as fast as possible? Is it not regrettable that 20 years after its formation the National Coal Board should still have to be told by the Government how to appraise its capital investment? What is to happen with the steel industry 20 years from now?

Mr. Marsh

The steel industry will be a great deal more efficient than now. Under the Coal Industry Nationalisation Act, 1946, the responsibility of the Minister relates to the general lines of the National Coal Board's programme of reorganisation and development. Despite this it is the practice for the Government to keep the procedures within the industry under regular review.