HC Deb 19 November 1987 vol 122 c617W
Mr. Illsley

To ask the Secretary of State for Energy what amount of capital investment and capital repayment charges are being paid currently by British Coal in respect of colleries which closed(a) since 1960, (b) since 1985 and (c) at any time.

Mr. Michael Spicer

£415 million and £450 million of the British Coal Corporation's debt was written off in the capital reconstructions under the Coal Industry Acts of 1965 and 1973 respectively. In more recent years, the book value of closed collieries has been written off at the time of closure by means of a terminal depreciation charge. Government deficit grant has been made available to cover these charges, interest on borrowing, and other costs where they have not been met from the corporation's revenues. It follows that the corporation has been carrying no continuing financial burdens in respect of such collieries.

Back to
Forward to