HC Deb 02 July 1923 vol 166 c48W
Mr. LAWSON

asked the Secretary for Mines the profits paid on coal mines during the year ending 31st March, 1923; the profits on coal mines for each of the 12 years ending 31st March, 1923; and the profits on coking, by-product and auxiliary operations for each of the 12 years ending 31st March, 1923?

Lieut.-Colonel LANE-FOX

The figures asked for in the first and second parts of the hon. Member's question (except those relating to the year ended 31st March, 1923, the profits of the last quarter of which are not yet ascertained) are estimated to be approximately as follow:

Aggregate Profits (except where otherwise specified).
Year ended 31st March: £
1912 7,200,000
1913 16,900,000
1914 21,100,000
1915 13,900,000
1916 26,200,000
1917 39,800,000
1918 26,300,000
1919 22,300,000
1920 41,800,000
1921 3,100,000
1922 (Loss) 1,700,000
Nine months ended 31st December, 1922 7,400,000

I should add that the Income Tax allowance for wear and tear of plant and machinery has been deducted in arriving at the profits, but nothing has been charged in respect of amortisation of shafts and equipment. Bank interest has been deducted, but not debenture and other annual interest. Charges for Excess Profits Duty, Income Tax and other taxation are ignored and no account is taken of the payments to or by owners under the Coal Mines Control Agreement (Confirmation) Act, 1918, and the Coal Mines (Emergency) Acts, 1920 and 1921.

The information asked for in the third part of the hon. Member's question is not available.

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