HC Deb 21 December 1972 vol 848 cc1701-4

Queen's Recommendation having been signified—

Resolved, That, for the purposes of any Act of the present Session to provide for the capital reconstruction of the National Coal Board, it is expedient to authorize—

  1. (1) the remission of outstanding liabilities of the Board to the Secretary of State in respect of the principal of or interest on sums borrowed, or deemed to have been borrowed, from him by the Board before the end of March 1973;
  2. (2) the payment out of moneys provided by Parliament of any increase in the grants so payable under section 1 of the Coal Industry Act 1971 which is attributable to any provisions of the said Act of the present Session whereby—
    1. (a) the financial years of the Board in respect of which such grants may be made will or may include any of the Board's financial years not later than that ending in March 1978;
    2. (b) the limit imposed by subsection (3)(c) of that section in respect of the financial year of the Board ending in March 1974 is raised from one-third to one-half; and
    3. (c) the limit of £24 million imposed by that section on the aggregate amount of the grants thereunder is to apply only to expenditure of the Board for the period consisting of the financial years of the Board ending in March 1972 and in March 1973, respectively,
    subject to the limitations that grants made under that section in respect of any of the financial years referred to in sub-paragraph (a) of this paragraph shall not exceed one-half of the relevant expenditure of the Board (as defined by section 3(3)(b) of the Coal Industry Act 1965) for that financial year, and that the aggregate grants which may be so made in respect of those financial years, if they extend to March 1978, shall not exceed £100 million or, if they extend only to March 1976, shall not exceed £60 million;
  3. (3) the payment out of moneys provided by Parliament of any increase in the sums so payable under section 3 of the Coal Industry Act 1967 which is attributable to any provisions of the said Act of the present Session whereby—
    1. (a) a scheme under that section may provide for payments to be made either to or in respect of persons to whom the scheme applies;
    2. (b) such a scheme may provide for payments to or in respect of persons becoming redundant within a period up to 26th March 1978; and
      3. 1702
    3. (c) payments by the Secretary of State under such a scheme may include payments to the Board in respect of the carrying out by the Board of arrangements relating to concessionary coal,
    subject to the limitation that, if the period referred to in sub-paragraph (b) of this paragraph extends up to 26th March 1978, the aggregate payments made by the Secretary of State under that section during the financial years of the Board ending in March 1974 to March 1978 shall not exceed £100 million or, if that period extends only up to 28th March 1976, the aggregate payments so made during the financial years of the Board ending in March 1974, 1975 and 1976, respectively, shall not exceed £60 million;
  4. (4) the making out of moneys provided by Parliament of payments to the Board reimbursing to the Board the whole or part of the Board's increased contributions towards benefits payable under the mineworkers' pension scheme, subject to the limitations that—
    1. (a) the contributions are contributions towards benefits payable in respect of any part of a period beginning on 1st April 1973 and not extending beyond the financial year of the Board ending in March 1978, and
    2. (b) the aggregate amount of the payments so made to the Board, if that period extends to the end of that financial year, shall not exceed £40 million or, if it extends only to the end of the financial year of the Board ending in March 1976, shall not exceed £25 million;
  5. (5) the making out of moneys provided by Parliament of payments to the Board for the purposes of promoting the sale of coal by the Board to Electricity Boards during the financial years of the Board ending in March 1974, 1975 and 1976, respectively, subject to the limitation that the aggregate amount of the payments so made shall not exceed £100 million;
  6. (6) the making out of moneys provided by Parliament of grants to the Board towards any cost incurred by the Board in building up and maintaining stocks of coal or coke, subject to the limitations that—
    1. (a) any such cost is incurred during a period beginning on 1st April 1973 and not extending beyond the financial year of the Board ending in March 1978, and
    2. (b) the aggregate amount of the grants so made, if that period extends to the end of that financial year, shall not exceed £70 million or, if it extends only to the end of the financial year of the Board ending in March 1976, shall not exceed £40 million;
  7. (7) the making out of moneys provided by Parliament of grants for the purpose of contributing towards measures for securing supplies of coke for use by the iron and steel industry within the European Coal 1703 and Steel Community, subject to the limitations that—
    1. (a) the grants are made during a period beginning on 1st April 1973 and not extending beyond the financial year of the Board ending in March 1978, and
    2. (b) the aggregate amount of the grants so made, if that period extends to the end of that financial year, shall not exceed £75 million or, if it extends only to the end of the financial year of the Board ending in March 1976, shall not exceed £45 million:
  8. (8) the making out of moneys provided by Parliament, during any of the financial years of the Board ending in March 1974, 1975 and 1976 respectively, of grants to the 1704 Board, not in the aggregate exceeding £210 million, for the purpose of assisting the Board in moderating contraction of the coal mining industry in Great Britain;
  9. (9) the payment out of moneys provided by Parliament of any increase attributable to the said Act of the present Session in the sums so payable in respect of administrative expenses of the Secretary of State:
  10. (10) any increase in the sums payable into or out of the Consolidated Fund which is attributable to any provisions of the said Act of the present Session relating to borrowing by the Board from the Commission of the European Communities or from the European Investment Bank.—[Mr. Emery.]