§ Sir J. Edenasked the Minister of Power to what extent the requirement in paragraph 19 of the White Paper on the Financial and Economic Obligations of the Nationalised Industries, to provide for revenue purposes adequate allocations to general reserve as a contribution towards capital development, is responsible in percentage terms for the increased charges of the inidividual electricity boards.
§ Mr. WoodOne of the reasons for the increase in the charges of the electricity boards is to enable them to meet the financial objectives agreed with the industry under paragraph 19 of the White Paper (Cmnd. 1337). I announced these objectives in reply to a Question by my hon. Friend the Member for Guildford (Sir R. Nugent) on 28th March, 1962. These objectives, as a percentage return on average net assets over the period 1962–63 to 1966–67, are designed to cover depreciation and interest as well as to provide a balance of revenue to be used to finance development. I cannot say how much of the increased charges is specifically related to any particular part of the objectives.