HL Deb 01 August 1978 vol 395 cc1275-6WA
The Earl of SELKIRK

asked Her Majesty's Government:

NATIONALISED INDUSTRIES
£ million
Government loans net of repayments and sums written-off as at: (a) March 1978 (b) December 1977 Subsidies, compensation and other payments made in the period to March 1978 Capital debt and revenue deficits written-off to date (July 1977)
National Coal Board (a) 581 758 864.6(6)
Electricity Industry (England and Wales) (a) 3,286 655 —
Electricity Industry (Scotland) (a) 722 121 —
British Gas Corporation (a) 835 107 —
British National Oil Corporation (b) — — —
British Steel Corporation (a) 2,753(2) — 350.7(7)
Post Office (a) 3,318(2) 449 207.1(8)
British Airways Board (a) 331(2) 48 135.0(9)
British Airports Authority (a) 63 23(3) —
British Transport Commission(1) — 260 487.4
British Railways Board (b) 331 3,336(4) 1,451.1(10)
London Transport Board(1) — 41 269.8
British Transport Docks Board (b) 111 — —
British Waterways Board (b) 11 71 15.5
National Freight Corporation (b) 153 111 —(11)
National Bus Company (b) 133 81(5) —
Scottish Transport Group (b) 15 31(5) —
British Aerospace (b) 44(2) — —
British Shipbuilders (a) — 29 —
(1) The BTC ceased to exist from 1st January 1963. The LTB ceased to be a nationalised industry on 1st January 1970.
(2) Includes issues of public dividend capital and, in the case of BSC, other issues under Section 18 of the Iron and Steel Act 1975.
(3) Grants for airport development.
(4) Payments to Passenger Transport Executives in respect of their payments for BR services are included.
(5) Grants towards bus fuel duty are excluded. Since this table covers specific Central Government grants only, local authority subsidies to bus services are also excluded, except for the Central Government contribution to local authority subsidies to rural bus services. Certain grants included in the totals are also available to other operators in the industry.
(6) Includes £90.8 million in respect of accumulated revenue losses at March 1965, £24.8 million provision for revenue losses in the year ended March 1966 and £174.6 million in respect of accumulated revenue losses to March 1973.
(7) This amount was transferred to reserves under the Iron and Steel Act 1972; against this £236 million had been written off by 1st April 1978.
(8) Including £13 million in respect of PO Banking Services recreated into the form of public dividend capital.
(9) Including £30 million reconstituted as a reserve, which has since been capitalised as public dividend capital.
(10) Including £705 million debt suspended under the Transport Act 1962 and finally written-off under the Transport Act 1968.
(11) A Bill is before the House providing for the write-off of £53.1 million of NFC's capital debt.

What moneys have been paid to nationalised industries since 1945, showing the figures separately for each industry, by way of:

  1. (a) loan;
  2. (b) grant; and
  3. (c) sums written off.

The PARLIAMENTARY UNDER-SECRETARY of STATE, DEPARTMENT of the ENVIRONMENT (Baroness Birk)

Following is the information. Amounts included in the second column for the year ended 31st March 1978 are provisional.