HC Deb 15 November 1966 vol 736 c213
24. Mr. Ridsdale

asked the Minister of Power what has been the return on capital employed in the nationalised coal, gas, and electricity industries, respectively, in the last year; and how this compares with the average for the last five years.

Dr. Bray

The gross return, consisting of surpluses, depreciation and interest, in 1965–66, was for coal 11 per cent., for gas 10 per cent. and for electricity 12.6 per cent. With permission I shall circulate the five-year averages and explanatory notes in the OFFICIAL REPORT.

Mr. Ridsdale

Is not this return very low compared with the average of private companies'? Does not this cast grave doubt on the Government's policy to allow public concerns to go into the manufacturing industry?

Dr. Bray

No, Sir. These returns fulfil almost precisely the target set by hon. Members opposite when they were the Government.

Following is the information: Five-year Averages, 1961–66: Coal 12.6 per cent., Gas 9.8 per cent., Electricity 12.2 per cent.