§ Mr. Mullinasked the Chancellor of the Exchequer if he will give details of the revenue received by the Treasury from each privatised corporation for each of the last three years before privatisation.
§ Mr. Norman LamontThe information available from published reports and accounts on the tax payments, net repayments of Government loans, interest payments on Government loans and public dividend capital dividends is as follows.
The figures do not show flows from central Government to the industries, for example, grants and net new borrowings, nor the receipts realised from privatisation. Nor do they represent the public expenditure of the corporations which would include, in addition to these flows, any market and overseas borrowings and leases. Definitions and information on the public expenditure of the industries can be found in the annual public expenditure White Papers, published by HMSO.
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Corporation1 3 Date of 1978–79 1979–80 1980–81 1981–82 1982–83 1983–84 1984–85 1985–86 1986–87 Privatisation Britoil5 1982 Tax paid — — — — 2396.4 — — — — Associated British Ports 1983 Tax paid — 8.8 6.8 2.9 0.6 — — — — Loan Repayment — — 8.2 — — — — — — Loan Interest — — 3.9 5.1 6.0 — — — — Enterprise Oil plc 1984 Tax Paid — — — — — 23.0 3.0 — — Jaguar plc 1984 Corporation Tax — — — — 4— 20.5 2l.7 — — British Telecom plc 1984 Corporation Tax — — — — — — 4.0 — — Net Loan Repayment — — — — 112.4 153.8 — — — Loan Interest — — — 150.3 307.0 291.3 105.1 — — British Gas plc 1986 Tax Paid — — — — — 234.4 131.2 261.6 — Gas Levy — — — — — 521.5 499.9 525.3 — Net Loan Repayment — — — — — 40.0 — — — Loan Interest — — — — — 1.8 0.1 — — British Airways 1987 Tax Paid — — — — — 3.2 2.7 2.2 — Net Loan Repayment — — — — — 42.4 — — — Loan Interest — — — — — 2.7 — — — Rolls Royce plc 1987 Tax Paid — — — — — 24.0 25.0 26.0 — British Airports Authority (BAA plc) 1987 Tax Paid — — — — — 3.0 0.2 0.1 23.5 Net Loan Repayment — — — — — 4.7 4.7 4.7 — Loan Interest — — — — — 3.9 3.6 3.2 1.1 1 Tax paid is the cash paid in the financial year and not the liability for tax in that year. 2 These figures represent tax paid in the 12 months to the December of the financial year and not in the financial year itself eg. Rolls Royce figure of £5.0 million in 1984–85 represents tax paid in calendar year 1984. Other corporations have accounting year-ends on 31 March. 3 Net loan repayments represents the gross borrowing from the National Loan Fund less gross repayments. 4 No separate figures available. Jaguar was part of BLMC Ltd. 5 Royalty payments by Britoil and Enterprise Oil, and VAT and PAYE payments are not included since they are not publicly available by individual corporation before privatisation.