HC Deb 15 November 1966 vol 736 cc209-10
19. Mr. Patrick Jenkin

asked the Minister of Power whether he will introduce legislation to oblige nationalised industries to prepare separate annual accounts covering the activities of diversification projects, and to set up an abitration tribunal to hear and pronounce upon any complaints of unfair competition or undue discrimination arising out of such activities.

Mr. Marsh

No. Sir. In the case of the industries for which I am responsible, my powers under the nationalisation statutes to direct the form of the accounts are adequate and I see no need for any tribunal to deal with complaints of unfair competition or undue discrimination.

Mr. Jenkin

So long as the Minister refuses to accede to these very reasonable demands which have been put forward by the Confederation of British Industry and others who have voiced fears about the diversification of the nationalised industries, how can he expect them to take his assurances rationally? Does not he realise that great anger was caused by the remark made the other day by his Parliamentary Secretary about industry fearing lions under the bed?

Mr. Marsh

The hon. Gentleman's question was in two parts. First, he asked for separate annual accounts covering the activities of diversification projects. Secondly, he asked for a tribunal to be set up to deal with this if the parties were aggrieved.

On the first one, the National Coal Board's accounts for 1965–66 include details of diversified projects undertaken in association with private industry, and I shall be discussing with the Board the form of future accounts.

On the second part, it is the responsibility of Government in the end to take the decisions and to be answerable to Parliament. Many of the suggestions in the C.B.I.'s memorandum are broadly acceptable to the Government.

Mr. David Griffiths

Is my right hon. Friend aware that many hon. Members on the other side—and ex-Members, too—who were supposed to be experts in this direction did not know the first ethic of it? In fact, one hon. Member at that time did not know until he saw it on the tape that his colliery company was £50,000 in the red.