HC Deb 06 February 1968 vol 758 c223
24. Mr. Concannon

asked the Minister of Power if he will make a statement on his plans for the reorganisation of the capital liabilities of the National Coal Board.

Mr. Freeson

No such plans are under consideration.

Mr. Concannon

Is my hon. Friend aware that the reorganisation of the liabilities of the coal industry in the 1965 Act was done on the assumption that the industry would be mining 180 million tons in the early 1970s? Would he not look again at this, since the £450 million which was transferred to the reserve fund will be used this year, and this will put an increased burden on the units which are already becoming capital-intensified?

Mr. Freeson

It would be far too early, only two years later, to undertake a further major capital reconstruction of the kind which my hon. Friend suggests.