HC Deb 06 February 1968 vol 758 cc222-3
17. Mr. Edward M. Taylor

asked the Minister of Power what is now the policy of Her Majesty's Government regarding the level of return to be earned by the National Coal Board on the capital invested.

Mr. Marsh

The National Coal Board's financial objective is to break even after interest and depreciation including £10 million a year to cover the difference between depreciation at historic cost and replacement cost.

Mr. Taylor

Is this the immediate target, or only for the early 1970s?

Mr. Marsh

This is the target which was set out in the White Paper on financial objectives. It is a net return of about 6 per cent.

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