§ 28. Mr. Emeryasked the Minister of Power upon what criteria he decides whether to refer to the National Board for Prices and Incomes a proposal for a price increase by one of the nationalised energy industries.
§ Mr. MasonA proposed price increase will be referred to the N.B.P.I. when, in the Government's view, it is a major one or where there are other circumstances which make investigation by the National Board desirable.
§ Mr. EmeryHow does the Minister equate this with the reasons given by the Prime Minister in 1967, when he suggested that it was necessary to take into account the industry's financial objectives? As we do not have the industry's financial objectives for the future, how can any reasonable references be made to the N.B.P.I.?
§ Mr. MasonThat is why I specifically said earlier in Question Time that the financial objective of the National Coal Board should be settled quite soon, and of course, before the N.B.P.I. reports.