HC Deb 08 March 1954 vol 524 cc120-1W
52. Mr. Bartley

asked the Minister of Fuel and Power the total amount of compensation payment to subsidiary interests transferred to the National Coal Board under Section 10 (2) of the Coal Indus try Nationalisation Act, 1946, in respect of each of the six valuation districts for which such valuations have been completed, showing the total amount in respect of each district and the amount of such payment apportioned to each interest.

Mr. Joynson-Hicks

The amounts of compensation in respect of subsidiary

District Total Stocksand stores Main-line wagons Miscellaneous
£ £ £ £
North Staffordshire … … … 2,174,641 915,021 290,826 968,794
Kent … … … … 688,893 275,913 — 412,980
Bristol … … … … 11,784 4,784 — 7,000
Somerset … … … … 244,322 59,103 63,204 122,015
Cumberland … … … … 612,496 387,763 8,529 216,204
Forest of Dean … … … 235,323 97,120 104,011 34,192

54. Mr. Bartley

asked the Minister of Fuel and Power what amount of the £237 million compensation paid to the previous owners of the coalmining industry is charged to the revenues of the industry; and what this amount represents in terms of each ton of coal produced.

Mr. Joynson-Hicks

The whole amount is being recovered from the National Coal Board by annuities extending over 50 years. The interest element, which at present is approximately 10d. per ton of coal, is charged by the Board against the revenues of the industry; the principal content of the annuity is more than covered by the sums charged to revenue for depreciation of the vested assets.