HC Deb 22 July 1969 vol 787 cc1467-8
6. Mr. Emery

asked the Minister of Power why he has not yet published financial targets for the nationalised industries for which he is responsible; and whether he will make a statement.

Mr. Mason

The White Paper on the Financial and Economic Objectives of Nationalised Industries (Cmnd. 3437) indicates the relevant criteria but their application has posed difficult problems. The over-riding considerations are that we get the right answers and that the industries should be properly consulted. All this has taken longer than I had hoped.

Mr. Emery

Does the right hon. Gentleman realise that, as we will not have a statement now, it means that we will not be able to have Parliamentary inquiry into the financial target for next year until 55 per cent. of the year is past? How can he possibly sustain the view that the chairmen of the nationalised industries know what the eventual target will be already but that he will not tell the House at the moment? This is despicable.

Mr. Mason

The seething indignation on the hon. Gentleman's face does not disturb me. The chairmen are being closely consulted. But we have not finalised what the objective shall be. Until we do, I cannot inform the House.

Mr. Scott-Hopkins

Does the right hon. Gentleman remember his undertaking in Committee on the Iron and Steel Act to give financial directions to the B.S.C. at the earliest opportunity? When can we expect him to do so?

Mr. Mason

I did give that undertaking but I have not yet concluded my talks with the Corporation.