§ Mr. McAddenasked the Minister of Fuel and Power what progress he has made in his consultations about the recommendations of the Committee of Inquiry into the Electricity Supply Industry with regard to retail trading activities of the electricity boards.
§ Mr. Aubrey JonesI have now agreed with the industry the changes to be made in the accounts for this part of the boards' business. In future they will show the receipts and direct costs for their contracting business separately from those for their sales of fittings. The present information in the accounts about indirect costs will not be split in this way, but it will be supplemented with estimated figures for the rent, rates and insurance properly chargeable to this business.
In addition the boards will amplify the Notes on Accounts to include, amongst other points, an estimate of the capital employed in the business, thus making it possible to calculate the net return on that 5W capital. The changes will involve extra work for the industry and I am grateful to the boards for their co-operation and particularly for agreeing to incorporate them in the accounts for the current year.