HC Deb 25 March 1952 vol 498 c30W
Mr. Nabarro

asked the Chancellor of the Exchequer whether he will state the estimated capital formation expenditure in 1952 for the nationalised coal, gas, electricity, transport and steel industries; what measure of control is to be exercised over capital investment in such industries; and to what extent capital investment curtailment similar to that in the private sector of industry will apply to them.

Mr. R. A. Butler

In view of the uncertainties of the economic situation I do not propose to publish a detailed estimate of capital formation expenditure by individual industries in 1952. The Government have laid down ceilings for investment by the nationalised industries. In doing so they have had regard to the basic character of these industries. It is quite possible that shortages of materials will prevent the totals from being fully attained. All substantial expenditure by nationalised industries on new buildings or works is licensed or authorised under Defence Regulation 56A.