§ Mr. Frank Allaunasked the Minister of Technology what sum was provided last year in the annual charge for compensation, or interest on compensation, to the former private owners of British colliery undertakings.
Mr. Alan WilliamsFollowing the reconstruction of the National Coal Board's debt under the Coal Industry Act 1965, the interest charges payable by the Board cannot be allocated between compensation and other liabilities. Compensation to former colliery owners was satisfied partly in cash and partly by the issue of 3½ per cent. Treasury stock 1977–80. This stock has a nominal value of approximately £262 million, on which the Treasury make annual interest payments of about £9 million.