§ Mr. Goldingasked the Secretary of State for Trade and Industry what target percentage return on capital has been set for the British Airways Authority for the present year; and how that target has been calculated.
§ Mr. Anthony GrantB.A.A.'s financial objective covers the three-year period from 1st April, 1969 to 31st March, 1972. It is to achieve not less than an average return (before charging interest and taxation) of 14 per cent. on average net assets over the period. The objective was calculated both by reference to estimates early in 1970 of what B.A.A. could 359W reasonably be expected to achieve and to the need to maintain the Authority as a viable enterprise.