§ Mr. Foulkes
asked the Chancellor of the Exchequer if he will publish in the Official Report a table listing the disposals of public industrial interests, whether in the form of the sale of shares or otherwise, for each of the financial years 1979–80, 1980–81 and 1981–82 to date, showing the gross proceeds from sales, the net proceeds to the Exchequer and the programme to which these are attributed, expressing the amounts both in current prices and in 1980 survey prices.
§ Mr. Ridley
The following table sets out the net proceeds from asset sales credited to the special disposals programme. Gross figures are not available for all the transactions on a consistent basis.
£m Average 1979–80 Prices Transaction Outturn Prices 1980 Survey Prices 1979–80 Sale of shares in the British Petroleum Co. Ltd. 276 276 National Enterprise Board—sale of certain shares 37 37 Sale of shares in Drake & Scull Holdings Ltd. 1 1 New Town Development Corporations and the Commission for the New Towns—sale of land and buildings 26 26 Regional Water Authority—sale of land 3 3 Sale of shares in Suez Finance Company 22 22 Property Services Agency—sale of land and buildings 5 5 British National Oil Corporation receipts of advance payments of oil 622 622 Stamp duty and VAT 7 7 Total 999 999
Transaction Outturn Price 1980 Survey Prices 1980–81 Receipts of premiums levied on the seventh round of North Sea Oil licences 210 178 Change in level of receipts of advance payments for oil −49 −41 Sale of leases of certain motorway service areas—sales of land and buildings 28 24
Transaction Outturn Price 1980 Survey Prices Property Services Agency—sale of land and buildings 4 3 Sale of shares in British Aerospace Ltd. 43 36 Payment of premiums levied on the seventh round of North Sea oil licences grants to British National Oil Corporation −15 −13 New Town Development Corporations and the Commission for the New Towns—sale of land and buildings 52 44 National Enterprise Board—sales of certain shares 83 70 Total 356 301
Note: The figures in the second column are in cost terms, ie. in 1979–80 prices with the general effect of inflation removed.
Full figures for 1981–82 to date are not yet available; a detailed estimated outturn will be included in the Financial Statement and Budget Report. This will include receipts of £18 million—£14 million at 1980 survey prices—from the sale of leases of motorway service areas, £184 million—£140 million at 1980 survey prices—from the sales of shares in Cable and Wireless, before deduction of VAT and stamp duty, and £44 million—£34 million at 1980 survey prices—for the sale of British Sugar Corporation shares.
Special asset sales are not attributed to any particular public expenditure programme, but are shown separately in the Government's spending plans, as in table 1.1 of the last public expenditure White Paper, Cmnd. 8175.