§ Mr. McGuireasked the Minister of Power when he expects to announce his revisions to the Fuel Policy White Paper; and in what form his decisions will be published.
§ Mr. MarshAs is made clear in paragraph 6 of the White Paper (Cmnd. 3438) fuel policies are kept under continuous review in the light of changing circumstances.
The main features of devaluation in relation to fuel policy are the increase in the price of fuel oil and the possibilities of increased coal exports.
Devaluation increases the schedule price of fuel oil by 0.75d. per gallon but this has to be compared with the figures in the White Paper (Appendix I, Table C) which considered the effect of an increase of 2.0d. per gallon. In the export market the N.C.B. hope to increase exports by 2–3 million tons per annum.
As I explained in the House on 22nd January these changes would not be sufficient: o affect materially the policy guide lines in the White Paper or to obviate the need for support for coal at power stations and gasworks in the period up to March, 1971.