§ 63. Mr. Nabarroasked the Minister of Fuel and Power the annual investment in the coal mines since vesting date, 1st January, 1947, showing year by year figures; and the annual investment authorised for 1955, 1956 and 1957.
§ Mr. Geoffrey LloydFollowing is the answer:
National Coal Board—capital expenditure on collieries and associated activities Actual: £m. 1947 … … … 18.5 1948 … … … 24.4 1949 … … … 29.9 1950 … … … 27.2 1951 … … … 29.9 1952 … … … 46.1 1953 … … … 59.4 1954 … … … 77.2 Approved: 1955 … … … 92.0 No authorisation has yet been given by the Government for 1956 or 1957, but the Board estimates provisionally that investment in each year will approximate £100 million.
§ 67. Mr. Bartleyasked the Minister of Fuel and Power the total amount of annuities and interest charged to the National Coal Board since, and including, 1947; and what these amounts represent per ton of coal produced each year.
§ Mr. Geoffrey LloydIn the eight years to 31st December, 1954, the National 7W Coal Board paid £127.6 million for principal and interest charges on Exchequer advances required to meet its liabilities for compensation and interim income on transferred interests and for capital requirements since vesting date.
The incidence of these charges has been uneven but the average was approximately 1s. 61½d. per ton of deep-mined coal produced. With increasing capital investment in the industry the annual liability is tending to rise.