Privatised Companies (Hansard, 23 March 1995)

§ Sir Norman Fowler
To ask the Chancellor of the Exchequer what were the total tax receipts for the last financial year from industries that have been denationalised since 1979.

§ Sir George Young
[holding answer 28 February 1995]: Corporation tax receipts in 1994–95 from privatised companies are likely to be £2.5 billion.

§ Ms Armstrong
To ask the Chancellor of the Exchequer if he will update the answer to the hon. Member for Newham, North-West (Mr Banks) of 17 November 1986,Official Report, column 82, as to the number of individual shareholders retaining shares in each of the concerns privatised since 1979. [15401]

§ Sir George Young
This information is not held centrally, but the number of shareholders may be found in individual companies' annual reports.

§ Ms Armstrong
To ask the Chancellor of the exchequer what was the total amount of debt written off in each of the privatisations and sale of Government assets since 1979, for each company privatised. [15358]

§ Sir George Young
The table shows the debt written off, and the type of debt concerned, for each company privatised where this occurred. This includes all debt written off since 1979 in companies subsequently privatised. The liability to pay interest on debt remains up to the date of repayment or write-off.
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Debt written off prior to privatisation

Year Privatisation Amount £ Type of Debt

1986–87 BAA 43,503,340 National loans fund

1988–89 British Steel 500,000,000 Public dividend capital

1988–89 British Steel 3,480,000,000 Borrowing under Iron and Steel Act 1982

1989–90 Water companies 4,973,332,672 National loans fund

1989–90 Water companies 55,013,916 Public Works Loan Board

1991–92 Scottish electricity companies³ 1,043,573,600 National loans fund

1994–95 British Coal 1,633,400,000 Voted loans

Notes:

¹privatised as National Freight Consortium-now NFC.

² privatised as Association British Ports Holdings.

³ prior to privatisation, national loans fund debt due to the South of Scotland electricity board nuclear programme of £1,368,390,398 was transferred to Scottish Nuclear Ltd. and subsequently written off.

§ Ms Armstrong
To ask the Chancellor of the Exchequer if he will indicate the administrative costs for the share offers relating to(a) British Gas, (b) the electricity generating companies, (c) the electricity distribution companies, (d) the two Scottish electricity companies and (e) the water companies in the same

Adiministrative costs¹ of privatisation

Year Selling and other commissions Marketing² Recovering bank costs UK advisers fees UK underwriting Other costs³ Total

British Gas 1986 8 36 40 4 53 22 163

Water companies 1989 6.7 36.3 26.1 25.8 33.2 15.4 143.5

Regional electricity companies⁴ 1990 10.5 15.2 92.3 28.8 36.6 18.5 201.9

Generating companies⁴ 1991 3.3 6.9 34.1 17.2 14.9 8.2 84.6

Scottish electricity companies⁴ 1991 4.1 5.9 29.4 19.6 21.5 9.1 89.6

¹ Only costs borne by the Exchequer are shown. Costs shown exclude VAT and, where known, stamp duty, the cost of incentives and interest earned on application monies.

² Including the operation of the share information office.

³ Including overseas expenses.

⁴ Costs to 31 December 1991.

⁵ Costs to 31 March 1992.

Debt written off prior to privatisation
Year	Privatisation	Amount £	Type of Debt
1986–87	BAA	43,503,340	National loans fund
1988–89	British Steel	500,000,000	Public dividend capital
1988–89	British Steel	3,480,000,000	Borrowing under Iron and Steel Act 1982
1989–90	Water companies	4,973,332,672	National loans fund
1989–90	Water companies	55,013,916	Public Works Loan Board
1991–92	Scottish electricity companies³	1,043,573,600	National loans fund
1994–95	British Coal	1,633,400,000	Voted loans
Notes:
¹privatised as National Freight Consortium-now NFC.
² privatised as Association British Ports Holdings.
³ prior to privatisation, national loans fund debt due to the South of Scotland electricity board nuclear programme of £1,368,390,398 was transferred to Scottish Nuclear Ltd. and subsequently written off.

Adiministrative costs¹ of privatisation
	Year	Selling and other commissions	Marketing²	Recovering bank costs	UK advisers fees	UK underwriting	Other costs³	Total
British Gas	1986	8	36	40	4	53	22	163
Water companies	1989	6.7	36.3	26.1	25.8	33.2	15.4	143.5
Regional electricity companies⁴	1990	10.5	15.2	92.3	28.8	36.6	18.5	201.9
Generating companies⁴	1991	3.3	6.9	34.1	17.2	14.9	8.2	84.6
Scottish electricity companies⁴	1991	4.1	5.9	29.4	19.6	21.5	9.1	89.6
¹ Only costs borne by the Exchequer are shown. Costs shown exclude VAT and, where known, stamp duty, the cost of incentives and interest earned on application monies.
² Including the operation of the share information office.
³ Including overseas expenses.
⁴ Costs to 31 December 1991.
⁵ Costs to 31 March 1992.