§ Sir C. Osborne
asked the Minister of Power what was the capital employed on the total sales of the British Steel Corporation for 1966–67 on which a 1.9 per cent. profit was made, after depreciation, but before interest charges; and how much depreciation and interest charges amounted to respectively.
§ Mr. Freeson
The combined total of the share capital, long term loans and debentures and reserves shown in the accounts of the nationalised steel companies at the beginning of 1966–67 amounted to £1,228 million. The profit which gave rise to a return of 1.9 per cent. on this capital was arrived at after charging £70 million for depreciation. Interest charges on the long term loans and debentures came to £23.5 million.