HC Deb 11 February 1969 vol 777 cc283-4W
Mr. Marples

asked the Minister of Technology if he will give the net profit or loss of the National Research and Development Corporation for each year since it was set up; and if he will state the total net cost to public funds of the Corporation to date.

Dr. Bray

The information in the following table is taken from the National Research Development Corporation's published Annual Accounts:

1949–50 16,839
1950–51 60,159
1951–52 57,880
1952–53 97,457
1953–54 130,918
1954–55 100,964
1955–56 352,677
1956–57 231,016
1957–58 456,420
1958–59 382,722
1959–60 415,122
1960–61 770,725
1961–62 1,074,202
1962–63 720,578
1963–64 589,192
1964–65 866,524
1965–66 672,793
1966–67 934,948
1967–68 600,681


(1) 1949–50 to 1964–65: financial periods ended 30th June. 1965–66 to 1967–68: financial periods ended 31st March.

(2) The figures up to 1965–66 include interest on advances accrued in each year but not paid. In 1966–67 the Corporation paid interest on a provisional basis for the period 28th June, 1949 to 31st December, 1966, and, under the provisions of section 9 of the Development of Inventions Act 1967, was granted interest relief. The payment of interest relief grant reduced the cumulative deficit on income and expenditure account but no apportionment of the grant was made between years. In 1967–68 the cumulative deficit was reduced by a further payment of interest relief grant in respect of earlier years and the crediting of interest on advances written off under section 8 of the Act. Again, no apportionment was made between years.

Up to 31st March, 1968, the total net cost of the Corporation to public funds was £14,836,231, comprising advances of capital and payments of interest relief grant made up to that date, less payments of interest and repayments of capital. Of this sum, liability to repay advances to a total of £1,178,580 was later extinguished under Section 8, Development of Inventions Act, 1967.

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