HC Deb 18 June 1963 vol 679 cc28-30W
38. Mr. W. Yates

asked the Chancellor of the Exchequer how many, and what are the names of, companies or industries, nationalised and otherwise, in which Her Majesty's Government has a financial interest; how much public money has been invested in them since 1951; how much interest they have paid to the Treasury since 1951; and whether he will take steps to form all of them into parastatal organisations responsible to Parliament.

amble to Table
The Government's financial interest in major nationalised un-dertakings is well known, and is clear from the published accounts of these un-dertakings, which are readily available. No reference is therefore made to the following:
National Coal Board
Electricity Council
South of Scotland Electricity Board
North of Scotland Hydro-Electric Board
Gas Council
British Transport Commission (and successor bodies)
British Overseas Airways Corporation
British European Airways Corporation
Iron and Steel Holding and Realisation Agency
Table
1. PUBLIC COMPANIES IN WHICH THE GOVERNMENT HOLDS SHARES OR DE-BENTURES
Company Investment of public funds since April, 1951 Dividends paid to the Government since April, 1951
£ £
Suez Finance Company … … … … … None 17,805,503
British Sugar Corporation … … … … … None 472,500
British Petroleum Co. … … … … … … None 112,866,074
Cable and Wireless … … … … … … None 8,461,800
S.B. (Realisations) Ltd. … … … … … None 277,580
Power Jets Ltd … … … … … … … None 262,000
Cunard Steamship Co. … … … … … … None 61
Park End Sawmills Ltd. … … … … … None 390
Cowal Ari-Sawmilling Ltd. … … … … … 15,000 6,750
Itabira Iron Ore Co. Ltd. (in liquidation) … … … None None
Welsh Highland Light Railway Co. (in liquidation) … None None
2. COMPANIES IN RECEIPT OF INTEREST-BEARING LOANS FROM GOVERN-MENT DEPARTMENTS
Company Loans made since April, 1951 Interest received since April, 1951
Aluminium Co. of Canada … … … … … $Can. 42,200,000 $Can. 44,139,519
Steetley Magnesite Co. … … … … … £550,000 £178,336
Orkney Island Shipping Co. … … … … … £36,500 £3 162
Colvilles Ltd, … … … … … … … £47,500,000 £529,865
In addition to the above loans, £92,024 has been lent since 1951 to various boards of Harbour Commissioners. Other Government loans have also been made under the following schemes:—
(i) Revolving Fund for Industry: since 1951 loans totalling £716,978 have been made to 74 firms. and £71,160 has been received in interest.
(ii) Distribution of Industry: loanstotalling £71,201,394 have been made since 1951 to 367 undertakings under the Dis-tribution of Industry Acts and the Local Employment Act and interest received during the same period has amounted to £4,409,098.
(iii) Fuel Saving Equipment Loans: since 1951 loans totalling £5,180,000 have been made to a variety of companies and other bodies, and interest amounting to £351,500 has been received.
(iv) Loans of £8,780,000 to the Forth Road Bridge Joint Board and of £6,070,000 to the Essex and Kent County Councils in respect of the partford-Purfleet tunnel: these loans are interest-free until the bridge and tunnel are in operation and charging tolls.

Mr. Maudling

I am circulating a table in the Official Report containing the information requested. So far as the last part of my hon. Friend's Question is concerned, I see no general reason for disturbing the existing arrangements.