§ 62. Mr. Ridleyasked the Chancellor of the Exchequer, in view of the fact that private industry paid £789 million in direct taxation in 1964–65 and nationalised industry £3.5 million, what proposals he has to make the nationalised industries pay a greater share of the taxation burden.
§ Mr. CallaghanNone. The financial performance of the nationalised industries is in the main determined by financial objectives given to them by the Government. They pay direct tax on the same basis as any private Company although the amount paid has been affected both by their rate of expansion and capital allowances; and also by deficits where these have been incurred.