§ 20. Mr. Albuasked the Chancellor of the Exchequer what is the latest estimate he has made of the advances that will be required from the National Loans Fund in the year 1972–73 to the nationalised industries as a result of their acceptance of the Government's limit on price increases and of the withdrawal of certain subsidies to railway services needed for social reasons.
§ Mr. NottIt is not possible to identify separately the amount by which borrowing by the nationalised industries from the National Loans Fund in 1972–73 will be increased as a result of their participating in the CBI initiative on price restraint. No change has been made in the arrangements for paying grant to the British Railways Board.
§ Mr. AlbuIs the hon. Gentleman aware that the Government have reduced the finances of the nationalised industries to a greater shambles than they have been in over the last 10 years? Will he ask the Chancellor of the Exchequer to publish a White Paper explaining the principles by which coal, gas and electricity are subsidised but council house rents and commuter fares are not.
§ Mr. NottI do not think that there is any accuracy in the hon. Gentleman's charges, but my right hon. Friend the Chancellor has noted what he said.
§ Mr. Joel BarnettAs the hon. Gentleman did not answer the previous question when one of my hon. Friends said that he had got all the facts right, will he now say whether it is the Government's policy to allow the nationalised industries to run on commercial lines, and, if so, how he equates that with the idea that they should restrain their prices in the way suggested?
§ Mr. NottThe CBI scheme, which the hon. Gentleman knows all about, still has just under three months to run. At the council meeting on 19th April, the CBI decided to defer for three months its decision on the extension of the price restraint policy beyond 31st July. It is very much better to consider these issues as they affect the nationalised industries in the light of the CBI's forthcoming decision.