HC Deb 16 July 1959 vol 609 cc59-60W
Mr. Moss

asked the Paymaster-General what is the total amount to date paid by the fuel and power industries in compensation payments to former owners since nationalisation, giving figures for each industry separately as well as in aggregate.

Sir I. Horobin

Compensation took a variety of forms and the position can best be shown by reference to the capital liabilities assumed by the industries:

—— Coal Electricity (Note 1) Gas
£m. £m. £m.
Liability to the Minister 292 (Note 2)
Compensation stock 342 189
Obligations to local authorities 174 31
Compensation to local authorities for severance 5 2
Mortgages and other loans transferred 19 6
Bank overdrafts, etc. transferred 19 34
£292m. £559m. £262m.
Note 1: Including England, Wales and South of Scotland.
Note 2: Does not include liability to the Minister in respect of capital outlay refunds, amounting to £18 million (S. 18 of the Coal Industry Nationalisation Act, 1946) or of Treasury Stock issued in exchange for Coal Commission Stock, amounting to £78.4 million (S. 32 of the Coal Industry Nationalisation Act, 1946).