National Film Finance Corporation (Hansard, 28 February 1969)

§ Mr. Cordle
asked the President of the Board of Trade what Government subsidy is given each year to the National Film Finance Corporation.

§ Mrs. Gwyneth Dunwoody
The Government do not give a subsidy to the National Film Finance Corporation.

§ Mr. Cordle
asked the President of the Board of Trade what was the total profit or loss on loans made by Her Majesty's Government to the National Film Finance Corporation in each of the last five years.

§ Mrs. Gwynneth Dunwoody
I assume that the Question relates to profit or loss made by the National Film Finance Corporation in respect of the use made by the Corporation of the £6 million advanced by the Board of Trade, with the consent of the Treasury, under the Cinematograph Film Production (Special Loans) Act, 1949, as amended.
The following figures are taken from the Corporation's Annual Reports and Statements of Accounts. Column 2 shows the total profit or loss. Column 3 shows the deficiency on interest account each year, a major part of which is attributable 393W to the Corporation's continuing obligation to pay interest to Her Majesty's Government on money which the Corporation regards as irretrievably lost:

Column 1 Column 2 Column 3

Year to 31st March Annual Profit Accounts Loss attributable to payment of interest on money irretrievably lost

£ £

1964 (Profit) 72,864 —

1965 (Loss) 149,855 90,739

1966 (Loss) 203,717 133,459

1967 (Loss) 369,699 169,328

1968 (Loss) 159,098 183,709

TOTAL ESTIMATED ADDITIONAL EMPLOYMENT ^*

Development Areas

Northern Merseyside S.W. Wales Scotland Total† Great Britain outside DA Great Britain†

1963

Number … 5,230 10,440 560 6,440 9,680 32,350 30,860 63,210

Per cent. … (8.3) (16.5) (0.9) (10.2) (15.3) (51.2) (48.8) (100)

1964

Number … 8,770 3,380 560 2,650 10,840 26,200 35,120 61,320

Per cent. … (14.3) (5.5) (0.9) (4.3) (17.7) (42.7) (57.3) (100)

1965

Number … 15,220 12,240 820 2,270 12,160 42,700 41,520 84,220

Per cent. … (18.1) (14.5) (1.0) (2.7) (14.4) (50.7) (49.3) (100)

1966

Number … 15,060 5,740 940 4,570 18,260 44,570 33,170 77,740

Per cent. … (19.4) (7.4) (l.2) (5.9) (23.5) (57.4) (42.6) (100)

1967

Number … 11,860 3,810 930 4,830 15,690 37,110 28,350 65,460

Per cent. … (18.1) (5.8) (1.4) (7.4) (24.0) (56.7) (43.3) (100)

^* Employment expected to arise when projects are fully manned as estimated by the applicants for the certificates at the time of application.

† Because of rounding adjustments the sum of the constituent parts need not necessarily equal the total.

Column 1	Column 2	Column 3
Year to 31st March	Annual Profit Accounts	Loss attributable to payment of interest on money irretrievably lost
	£	£
1964 (Profit)	72,864	—
1965 (Loss)	149,855	90,739
1966 (Loss)	203,717	133,459
1967 (Loss)	369,699	169,328
1968 (Loss)	159,098	183,709

TOTAL ESTIMATED ADDITIONAL EMPLOYMENT ^*
Development Areas
		Northern	Merseyside	S.W.	Wales	Scotland	Total†	Great Britain outside DA	Great Britain†
1963
Number	…	5,230	10,440	560	6,440	9,680	32,350	30,860	63,210
Per cent.	…	(8.3)	(16.5)	(0.9)	(10.2)	(15.3)	(51.2)	(48.8)	(100)
1964
Number	…	8,770	3,380	560	2,650	10,840	26,200	35,120	61,320
Per cent.	…	(14.3)	(5.5)	(0.9)	(4.3)	(17.7)	(42.7)	(57.3)	(100)
1965
Number	…	15,220	12,240	820	2,270	12,160	42,700	41,520	84,220
Per cent.	…	(18.1)	(14.5)	(1.0)	(2.7)	(14.4)	(50.7)	(49.3)	(100)
1966
Number	…	15,060	5,740	940	4,570	18,260	44,570	33,170	77,740
Per cent.	…	(19.4)	(7.4)	(l.2)	(5.9)	(23.5)	(57.4)	(42.6)	(100)
1967
Number	…	11,860	3,810	930	4,830	15,690	37,110	28,350	65,460
Per cent.	…	(18.1)	(5.8)	(1.4)	(7.4)	(24.0)	(56.7)	(43.3)	(100)
^* Employment expected to arise when projects are fully manned as estimated by the applicants for the certificates at the time of application.
† Because of rounding adjustments the sum of the constituent parts need not necessarily equal the total.