§ Mr. Woodburnasked the Chancellor of the Exchequer what is the total annual extra amount which it is estimated will be required to be earned by the nationalised industries and boards under the new agreement with Her Majesty's Government to finance new capital developments.
§ Mr. BarberIn accordance with the White Paper on the Financial and Economic Obligations of the Nationalised Industries (Cmnd. 1337, April, 1961) the following financial objectives have been agreed with the industries concerned:
period 1962–63 to 1966–67. The Electricity Council's latest estimate of the Boards' capital requirements suggest that additional investment of nearly £400 million may be required over the target period. This estimate is still under discussion with the Government but an increase of this order would imply an increase of about £40 million in the industry's cumulative surplus to meet the financial objective.