HC Deb 10 July 1984 vol 63 cc461-3W
Mr. Proctor

asked the Secretary of State for Trade and Industry if he will set out in the Official Report the income and expenditure of each public sector industry for which his Department has been responsible in each of the last 10 years; and if he will indicate the loss or surplus and his Department's level of subsidy in each case.

Mr. Kenneth Baker

[pursuant to the reply, 24 May 1984, c. 530]: The available information for the nationalised industries for which the Department of Trade and Industry is currently responsible is as follows:

British Shipbuilders
£ million
Income Expenditure *Net Profit (Loss) Grants and Subsidies from central Government
1977–78† 548 652 (93) ‡ 50
1978–79 842 891 (60) ‡ 20

Income Expenditure *Net Profit (Loss) Grants and Subsidies from central Government
1979–80 813 923 (152) ║302
1980–81 899 941 (32) ║156
1981–82 1,026 1,045 (15) ║154
1982–83 1,093 1,210 (128) ║95
* After interest and taxation.
† 9 months only.
‡ Grants from the Shipbuilding Intervention Fund and Regional Development Grants.
║ Provision of Public Dividend Capital, grants from the Shipbuilding Intervention Fund and Regional Development Grants.
¶ Provision of Public Dividend Capital and grants from the Shipbuilding Intervention Fund.

British Steel Corporation
£ million
Income Expenditure *Net Profit (Loss) Grants and Subsidies from central Government
1973–74 1,775 1,690 39 †31
1974–75 2,256 2,131 70 ‡84
1975–76 2,357 2,450 (268) ‡412
1976–77 3,059 3,002 (117) ‡575
1977–78 3,154 3,433 (513) ‡520
1978–79 3,288 3,412 (357) ‡901
1979–80 3,105 3,473 (1,784) ‡926
1980–81 2,954 3,450 (1,020) ‡1,270
1981–82 3,443 3,690 (504) ‡839
1982–83 3,231 3,508 (869) ‡759
* After interest and taxation.
† Regional Development Grants.
‡ Provision of Public Dividend Capital/subscription of capital and Regional Development Grants.

British Telecommunications (Figures prior to 1 October 1981 relate to the Telecommunications section of the Post Office)
£ million
Income Expenditure *Net Profit (Loss) Grants and Subsidies from central Government
1973–74 1,159 1,221 (62) †62
1974–75 1,388 1,583 (195) †195
1975–76 2,167 2,012 155 nil
1976–77 2,658 2,293 ‡365 nil
1977–78 2,924 2,597 327 nil
1978–79 3,244 2,908 ║ 336 nil
1979–80 3,559 3,430 ║ 129 nil
1980–81 4,554 4,374 180 nil
1981–82¶ 5,708 5,250 458 nil
1982–83¶ 6,377 6,012 365 nil
* After interest and taxation.
† Compensation for price restraint.
‡ Before provision for elimination of profit above the Price Code reference level.
║ Before other gains.
¶ Figures restated on British Telecommunications rather than Post Office accounting practices.

Post Office (Figures exclude Girobank and those relating to the Telecommunications Section of the Post Office)
£ million
Income Expenditure *Net Profit (Loss) Grants and Subsidies from central Government
1973–74† 630 688 (58) ‡58
1974–75† 771 880 (109) ‡109
1975–76† 1,089 1,098 (9) —
1976–77† 1,200 1,176 24 ‡9
1977–78† 1,325 1,285 40 —
1978–79† 1,447 1,414 33 —-
1979–80† 1,708 1,674 ║ 34 —
1980–81║ 2,125 2,098 27 —
1981–82║ 2,437 2,349 88 —
1982–83║ 2,649 2,517 132 —
* After interest and taxation.
† Historic cost convention figures modified by the charging of supplementary depreciation.
‡ Before other gains.
║ Current cost accounting figures.

National Girobank
£ million
Income Expenditure *Net Profit (Loss) Grants and Subsidies from central Government
1973–74 to 1977–78 n/a n/a n/a —
1978–79 n/a n/a 4.7 —
1979–80 n/a n/a 9.7 —
1980–81 n/a n/a † 6.4 *5
1981–82 177 164 11.6 —
1982–83 207 190 8.9 —
* After interest and normal taxation.
† Before extraordinary item (special tax).
‡ Issue of PDC on which dividend is received.