HC Deb 04 April 1967 vol 744 cc9-10
10. Mr. Patrick Jenkin

asked the Minister of Power whether he is satisfied that he has adequate control over the investment plans of the nationalised industries for which he is responsible; and if he will make a statement.

Mr. Marsh

The nationalisation Statutes require the boards for which I am responsible to carry out their programmes of capital development on lines which are approved by me. I am satisfied that my powers are adequate for the discharge of these responsibilities.

Mr. Jenkin

Is the Minister aware that the National Coal Board has invested over £500,000 in a company called Draysley Limited, which has been trying to develop the "stokermatic" boiler? Is he further aware that this investment has proved an abject failure and the money has now been entirely lost? What control does his Ministry exercise over diversification investment of this sort and magnitude?

Mr. Marsh

One has to see this against a turnover of something like £800 million a year. I would have thought that the development of appliances was a perfectly proper function for the Board, and that the choice of the designs to be investigated and the arrangements for manufacture were also matters for the Board. Hon. Gentlemen cannot have it both ways. On the one hand, they say that nationalised industries should be run as commercial concerns, and on the other they complain that they are not completely managed by Government Departments.

Mr. Emery

Would the Minister say what action he has taken in order to ensure the necessary investment for the proper exploitation of North Sea gas and whether this means that investments planned by other boards, which he controls, are having to be cut down? If so, which boards?

Mr. Marsh

All the investment programmes of the nationalised industries are subject to control by the Ministry and to approval by the Government. I am satisfied that those regulations are sufficient. Whether I should get involved in the investment programmes arising out of the discovery of North Sea gas is another question, and I doubt whether Mr. Speaker would allow it.