§ Mr. Loveridge
asked the Chancellor of the Exchequer (1) what proportion of capital injected into United Kingdom industry in each of the past five years was paid into the private sector industries.
(2) what proportion of capital injected into United Kingdom industry in each of the past five years was paid into the nationalised industries.
§ Mr. Nott
The proportions are as follows:
Per cent. Private sector industries (industrial and commercial companies) Nationalised industries (public corporations) 1968 56 44 1969 68 32 1970 64 36 1971 63 37 1972 (first 3 quarters) 66 34
Capital injected has been taken to mean long-term borrowing and capital receipts-mainly investment grants. The figures are based on Tables 34 and 81 of Financial Statistics. For industrial and commercial companies the figures include receipts of capital transfers, the long-term part of other loans and mortgages, United Kingdom capital issues by quoted companies of ordinary and preference shares and debentures, capital issues overseas and overseas direct subscriptions to issue of capital, and intra-company investment by overseas companies-inward direct investment other than share transactions. For public corporations the figures include receipts of capital transfers, loans from central Government less redemption of Government guaranteed stock, stock issued less other redemptions, borrowing from own superannuation funds and the long-term part of borrowing abroad.