HC Deb 17 June 1966 vol 729 cc337-9W
Mr. Eldon Griffiths

asked the Chancellor of the Exchequer if he will publish a table of the annual operating losses and the losses on capital account sustained by the nationalised industries for each of the years 1962 to 1965.

Mr. Diamond

The following table shows annual financial results before and after paying interest. All the results for the year 1965 are not yet available.

NATIONALISED INDUSI RIES
£ million
1962
Result Before Interest Interest Result After Interest
1. Post Office 50.3 38.2 12.1
2. National Coal Board* (see Notes 1 & 4) 45.4 440 1.4
3. Electricity Council 145.4 102.9 42.5
4. N.S.H.E.B.* (see Note 1) 10.2 8.7 1.5
5. S.S.E.B.* (see Note 1) 11.0 9.2 1.8
6. Gas Council (see Note 2) 31.1 26.2 4.9
7. B.O.A.C. (see Note 5) −6.5 6.4 −12.9
8. B.E.A. 0.7 3.1 −2.4
9. British Transport Commision† (see Note 6) −71.8 110.7 −182.5
10. B. Railways Board† — — —
11. L.T.B.† — — —
12. B.T. Docks Board† — — —
13. B. Waterways Board† — — —
14. Trans. Holding† — — —
£ million
1963
Result Before Interest Interest Result After Interest
1. Post Office 72.2 41.5 30.7
2. National Coal Board* (see Notes 1 & 4) 42.7 42 0.7
3. Electricity Council 184.3 113.9 70.4
4. N.S.H.E.B.* (see Note 1) 9.6 9.5 0.1
5. S.S.E.B.* (see Note 1) 12.3 10.9 1.4
6. Gas Council (see Note 2) 37.3 27.7 9.6
7. B. O. A.C. (see Note 5) −4.2 6.2 −10.4
8. B.E.A. 5.8 2.8 3.0
9. British Transport Commission†(see Note 6) — — —
10. B. Railways −75.8 58.1 −133.9
11. L.T.B.† 7.8 5.7 2.1
12. B.T. Docks Board† 4.5 3.0 1.5
13. B. Waterways Board† −0.7 0.8 −1.5
14. Trans. Holding Company† 13.7 3.8 9.9
£ million
1964
Result Before Interest Interest Result After Interest
1. Post Office 65.9 45.8 20.1
2. National Coal Board* (see Notes 1 & 4) 43.2 42.7 0.5
3. Electricity Council 193.5 129.4 64.1
4. N.S.H.E.B.* (see Note 1) 10.6 10.4 0.2
5. S.S.E.B.* (see Note 1) 13.2 13.0 0.2
6. Gas Council (see Note 2) 46.7 31.5 15.2
7. B.O.A.C. (see Note 5) 14.2 6.2 8.0
8. B.E.A. 4.1 2.8 1.3
9. British Transport Commissiont (see Note 6) — — —
10. B. Railways Board† −62.5 58.4 −120.9
11. L.T.B.† 7.3 6.0 1.3
12. B.T. Docks Board† 4.7 3.1 1.6
13. B. Waterways Board† −0.7 0.8 −1.5
14. Trans. Holding 17.5 3.8 13.7

NOTES:

1. Accounts by financial years except for where prior to 1963 these industries accounted by calendar years.

2. The basis of calculation has been altered slightly since the reply given on 17th June, 1964 (Hansard Col. 193).

3. † Accounts by calendar years throughout.

4. Under the Coal Industry Act 1965, £415 million of the Boards debt at 28th March, 1965 was written-off. This will not affect results until 1965.

5. Under the Air Corporations Act 1966 £110 million of the Corporation's debt at 31st March, 1965 was written off. This will not affect results until 1965.

6. Under the Transport Act 1962 accumulated revenue losses of the Commission totalling £486.9 million were written off. The Exchequer received from the Commission cash and investments to the book value of £54.8 million.