Energy Assets (Privatisation) (Hansard, 25 July 1983)

§ 1. Mr. John Evans
asked the Secretary of State for Energy if he has any plans to privatise or denationalise any publicly owned energy assets.

§ The Secretary of State for Energy (Mr. Peter Walker)
I laid an order on 7 July taking over the British Gas Corporation's interests in certain offshore oilfields.

§ Mr. Evans
Will the Secretary of State take this opportunity to deny the front page story in The Times today that the Chancellor of the Exchequer is about to announce further sales of publicly owned assets? Does he agree that to sell off such valuable publicly owned assets as British Petroleum and Britoil would be an act of monumental folly?

§ Mr. Walker
I do not agree with the hon. Gentleman. The majority of BP is already owned by the private sector. The Chancellor will make his announcement at the appropriate time.

§ Dr. Owen
Does the Secretary of State agree that, were the Government to sell off BP shares, they would have a duty to the taxpayer, at the very least, to sell them when they could maximise the return to the taxpayer and that there could not be a more unfortunate time to sell BP shares than at present?

§ Mr. Walker
It is for the Government to judge when and how to sell and, having done so, to defend that judgment.

§ Mr. Eggar
Will my right hon. Friend confirm that he is going rather further than just considering the sale of BP shares and is actively looking at the introduction of private capital into the British Gas Corporation and the electricity supply industry?

§ Mr. Walker
The Government made it clear in their election manifesto that they were interested in seeing what areas of the public sector could sensibly and rationally be moved to the private sector. That examination is presently taking place and one result is the announcement that I made in answer to the main question about the transfer of BGC's oil assets as a result of an order laid on 7 July.

§ Mr. Rogers
Does the Secretary of State agree that the Government's dogmatic policy of returning our natural energy resources to private industry is a disaster course which is likely to lead to the position that we were in immediately after world war I when the Sankey report said that our natural energy resources were too important to be left to private greed and speculation?

§ Mr. Walker
I sympathise with the hon. Gentleman's old-fashioned Socialist views, but I very much disagree with them.

§ Mr. John Smith
The Secretary of State will be aware that later today the Chancellor of the Exchequer proposes to give a written answer about the sale of assets within his responsibility. Is it not disgraceful that he cannot tell the House of Commonse about that during energy questions at the Dispatch Box and be open to questions from hon. Members? Is it not a symptom of the Government's arrogance that they want to use a subterfuge to declare their policy before they scurry off for the recess without providing the opportunity for a debate?

§ Mr. Walker
No, Sir.

§ Dr. Owen
On a point of order, Mr. Speaker. Is it not the normal practice that an oral question takes precedence over a written question and that it is not in order for the Secretary of State to refuse to answer questions in the area for which he is responsible, such as those relating to British Petroleum and gas and oil assets, on the excuse that a written question is being answered by the Chancellor of the Exchequer which is clearly one which, to put it no higher, has been tabled with the Government's understanding? Will you give a ruling on this matter which, although I do not wish to delay Question Time, is of great importance?

§ Mr. John Smith
Further to that point of order, Mr. Speaker.

§ Mr. Speaker
Order. I normally take points of order at the end of Question Time.

§ Mr. John Smith
I appreciate that, but this is of fundamental importance. I respectfully support the view that an oral question must take precedence over a written question. Will you, Mr. Speaker, bear in mind that, instead of answering a proper question on the Floor of the House, the Secretary of State blandly said, "No, Sir," and sat down?

§ Mr. Speaker
I am not responsible for answers from the Dispatch Box, nor can I anticipate what is to be in a written answer.