Mr. Hunterasked the Minister of Power if he will give an estimate of the deficit which will be incurred by the National Coal Board in 1965–66.
§ Mr. Frederick LeeI have no reason to disagree with the figures in the Report of the National Board for Prices and Incomes published on 24th February. 229W This indicated an estimated gross deficit of about £58 million for 1965–66. Of this total, some £30 million will have been covered by the capital reconstruction under the Coal Industry Act, 1965. Moreover the balance of the deficit up to £25 million will be written off against the reserve created under capital reconstruction, as indicated in paragraph 9 of Command 2805.