§ 47. Mr. Varley
asked the Minister for Energy if he will break down into its components the £1,100 million committed to the coal industry in 1973 by Her Majesty's Government indicating which 12W component is written-off debt, how much of the £1,100 million has already been spent, how much is specifically committed for expenditure, under what headings that expenditure has taken place or will take place, and over what time scale that expenditure is envisaged.
§ Mr. Patrick Jenkin
The Coal Industry Act 1973 provided for (i) the National Coal Board's assets to be written down by £275 million; (ii) its accumulated deficits up to 31st March 1973 of £175 million to be written off; (iii) grants to the industry of up to £695 million spread over the years 1973–74 to 1977–78. The purposes and maximum amounts of these grants are set out in the Act.
In the year 1973–74 the published estimate of support for the coal industry is £154.6 million. Estimates for future expenditure will be laid before the House at the appropriate times.