Welsh Water Authority

HC Deb 20 March 1984 vol 56 c437W

Mr. Hooson

asked the Secretary of State for Wales if he has decided the financial target to be set for the Welsh water authority for 1984–85.

Mr. Nicholas Edwards

Under section 29(2) of the Water Act 1973, as amended, I shall shortly be laying the appropriate order setting the rate of return required on the net revalued assets of the Welsh water authority at 1.25 per cent. for 1984–85.

I would also advise that in consultation with the chairman of the Welsh water authority and in the light of its continuing programme of cost-cutting efforts, I have set a performance aim for 1984–85 of £101.3 million. This represents the operating costs for all the authority's services and is a reduction in real terms of some 2.9 per cent. over the expected outturn figure for 1983–84.