§ 50. Mr. Parkerasked the Chancellor of the Exchequer if he will bring up to date the figures given in Nationalised Industries, a Review of Economic and Financial Objectives, showing their net income as a percentage of their average net assets; and if he will provide figures for years prior to 1955–56.
§ Mr. DiamondWith permission, I will circulate figures for 1967–68 and 1968–69 in the OFFICIAL REPORT. Figures for years prior to 1955–56 are not available on the same basis.
Following is the information:
NATIONALISED INDUSTRIES Net Income as a Percentage of Average Net Assets 1967–68 per cent. 1968–69 per cent. Post Office 7.4 7.6 National Coal Board 4.6 4.0 Electricity Council and Boards in England and Wales 6.1 7.1 North of Scotland Hydro-Electric Board 5.4 4.7 South of Scotland Electricity Board 5.6 5.7 Gas Council and Area Gas Boards 3.7 6.5 British Steel Corporation 1.0 0.8 British Overseas Airways Corporation 17.1 21.1 British European Airways 2.7 6.5 British Airports Authority 11.0 12.3 British Railways Board(*) —4.4 —4.1 London Transport Board (*) —1.5 —0.9 British Transport Docks Board* 5.5 5.5 British Waterways Board (*) —3.4 —4.7 Transport Holding Company (*) 5.5 7.1 All Nationalised Industries 3.8 4.8 For comparative purposes the figures have been compiled as far as possible on a standardised basis from information in the annual accounts of the industries and differ in some respects from the industries' own presentation of their figures. Net Income is Gross Income less depreciation at historic cost and foreseeable obsolescence. (*) On a calendar year basis.