HC Deb 22 July 1975 vol 896 cc184-6W
Mr. D. E. Thomas

asked the Chancellor of the Exchequer how much compensatory British Gas Stock is currently held by former shareholders in the industry; and when it is due for redemption.

Mr. Dell

British Gas 3 per cent. Guaranteed Stock 1990–1995 was issued in May 1949, in accordance with the provisions of the Gas Act 1948, as compensation to holders of the gas industry securities which were vested in the Gas Council. Since this is a marketable stock it is not possible to estimate how much of the stock is still held by the original holders. The stock is redeemable at par not later than 1st May 1995, but the stock may be redeemed at par in whole or in part, by drawings or otherwise, at the option of the British Gas Corporation on or after 1st May 1990.

Mr. D. E. Thomas

asked the Chancellor of the Exchequer how much compensatory Treasury stock is currently held by coal royalty owners and former shareholders in the coal industry; and what amounts were paid out in interest in respect of this stock in each of the last five years.

Mr. Dell

3½ per cent. Treasury Stock 1977–80 was issued from June 1950 to December 1956 in partial satisfaction of compensation in respect of the nationalisation of the coalmining industry. Since this is a marketable stock it is not possible to estimate how much of the stock is still held by the original holders, nor what interest payments they have received over the last five years.

Mr. D. E. Thomas

asked the Chancellor of the Exchequer what interest payments have been made over the last five years in respect of 31 per cent. Treasury stock 1979–81 held by compensated former shareholders in the steel industry.

Mr. Dell

I regret that this information is not available.

Mr. D. E. Thomas

asked the Chancellor of the Exchequer how much of the National Debt is owed to compensated former shareholders in the nationalized transport industries; when the redemption of their stock is due; and what amount of interest has been paid in respect of this stock over the last five years.

Mr. Dell

The only transport compensation stock now outstanding is British Transport 3 per cent. Stock 1978–88, of which £1,052 million nominal remains outstanding. Interest payments on this stock in the five years up to 31st March 1975 have amounted to about £158 million. Since this is a marketable stock it is not possible to estimate how much of the stock is still held by persons who received it as compensation under the Transport Act 1947, nor to estimate how much interest they have received over the last five years.