§ Mr. Tebbitasked the Secretary of State for the Environment (1) what was the rate of return in the last year for which accounts are available on the assets, employed in the National Bus Company;
(2) what is the estimated target set for the National Bus Company expressed as a rate of return on assets employed for the current financial year;
(3) whether he has agreed the corporate plan for the financial years ending 1976, 1977 and 1978 in respect of the activities 305W of the National Bus Company; and, if so, what targets he has set;
(4) what are the latest estimated trading results for the current year for the National Bus Company.
§ Dr. GilbertAs I announced to the House on 5th August 1975, the NBC made a loss on revenue account of £12.3 million in 1974, and the trading results for 1975 will show a further loss. I have told the NBC that I expect it to return to viability, taking account of local authority revenue support contributions, by 1977 at the latest. I am awaiting the NBC's first draft corporate plan which will cover a five-year period.—[Vol. 897, c. 120–1.]