§ Sir C. Osborneasked the Minister of Power what was the capital employed on the total sales of the British Steel Corporation for 1966–67 on which a 1.9 per cent. profit was made, after depreciation, but before interest charges; and how much depreciation and interest charges amounted to respectively.
§ Mr. FreesonThe combined total of the share capital, long term loans and debentures and reserves shown in the accounts of the nationalised steel companies at the beginning of 1966–67 amounted to £1,228 million. The profit which gave rise to a return of 1.9 per cent. on this capital was arrived at after charging £70 million for depreciation. Interest charges on the long term loans and debentures came to £23.5 million.