HC Deb 29 April 1969 vol 782 cc1134-5
12. Mr. Emery

asked the Minister of Power what financial targets he has set for the electricity and gas industries for 1969–70; whether he will now announce the financial objectives for the next five years; and if he will make a statement.

Mr. Mason

I will inform the House of the new objectives when they have been settled.

Mr. Emery

Is it not time that the industry had these objectives from the Minister? Does he not agree that he should fulfil the recommendations in Cmnd. Paper 3437, which suggested that this information should already he in the hands of the chairmen, and that they should be for a five-year period, not just the immediate 12 months?

Mr. Mason

As the hon. Member has suggested, Cmnd. Paper 3437 is determining our economic and financial objectives. To get the relevant data from the nationalised industries has taken a little time, but it is our intention to plan over a five-year period.

Mr. Palmer

When the Minister fixes these targets, will he see that there is equality of treatment in the return expected from electricity as against gas?

Mr. Mason

I cannot give that promise, but I shall certainly look at the suggestion.