§ Mr. Beaneyasked the Minister of Power if he will set out in the Official Report the total amount of interest and interim income paid in respect of the Treasury Stock issued in each valuation district as compensation to former coal-owners under the Coal Industry Nationalisation Act, 1946.
§ Mr. WoodUp to 15th December, 1961, approximately £83 million interest was paid on 3½ per cent. Treasury Stock 1977–80 of the nominal value of £262 million Which was issued between June 1950 and December 1956 in satisfaction of compensation amounting to £242 million. Interest on this stock is payable by the Treasury to current stockholders who are not necessarily the former colliery owners to whom the stock was originally issued. The total interest payments cannot easily be allocated to the stock originally issued in respect of each valuation district.
The total amount of interim income paid to former colliery owners in each valuation district is set out in the table below:
Valuation District Interim income paid £ Northumberland 3,290,909 Durham 9,575,622 Cumberland 314,969 Lancashire and Cheshire 2,865,536 North Wales 482,155 Yorkshire 14,090,582 North Derbyshire 4,013,131 South Derbyshire 740,643 Nottinghamshire 4,847,616 Leicestershire 804.914 Shropshire 240,609 Cannock Chase 1,179,938 North Staffordshire 1,750,560 South Staffordshire 239,090 Warwickshire 2,009,911 Forest of Dean 594,451 Somerset 183,893 Kent 280,990 Bristol 4,453 South Wales and Monmouthshire 7,568,084 Scotland 8,490,010 £63,568,066 NOTE:
These payments were the equivalent of interest on compensation from the primary vesting date until the date of full satisfaction of the compensation whether by the issue of 164W Treasury Stock or by money payments. Interim income was not separately related to the proportion of compensation satisfied by issue of Treasury Stock.