HC Deb 22 July 1974 vol 877 cc1022-4
3. Mr. Andrew F. Bennett

asked the Secretary of State for Energy if he will take steps to bring the National Nuclear Corporation under public control.

35. Mr. Palmer

asked the Secretary of State for Energy what action he is now taking to extend the area of public participation in the National Nuclear Corporation.

Mr. Varley

The future shareholding structure of the National Nuclear Corporation is at present under discussion.

Mr. Bennett

Does not my right hon. Friend agree that the present holding in the National Nuclear Corporation is completely inadequate in order for the State to have control; that we should have at least a 51 per cent. holding; and that it would be far better if the corporation were wholly owned by the State, and therefore wholly controlled by us?

Mr. Varley

These matters are under discussion. As my hon. Friend will know, the General Electric Company has suggested that it wants to get rid of some of its shareholding in the NNC. I shall be discussing this matter with the GEC and I shall bear in mind my hon. Friend's suggestion.

Mr. Tom Boardman

Is there any proposed change in the agreement for the management of the company which was associated with the 50 per cent. holding by the GEC?

Mr. Varley

The GEC has told me that it hopes to and will indeed maintain a full management commitment to the nuclear programme.

Mr. Palmer

Does not my right hon. Friend agree that the wish of GEC to withdraw somewhat its proposed holding is an unrivalled and almost painless opportunity for the State to obtain a majority shareholding? Will my right hon. Friend bear in mind the fact that the Select Committee on Science and Technology, at the time that there was a Conservative majority, recommended a doubling of the State holding in the National Nuclear Corporation?

Mr. Varley

In the discussions which I have said I shall be having I shall bear in mind the point made by my hon. Friend, as well as the views of the Select Committee.

Mr. Patrick Jenkin

Is it right that these matters are dealt with in the report of the Nuclear Power Advisory Board? When are we to see the report, which was promised when the right hon. Gentleman made his statement on this matter?

Mr. Varley

I hope that the report will be published before the end of the month. Speaking from memory, I do not think that the structure of the NNC is covered in the report, but if that is not the case I shall get in touch with the right hon. Gentleman.