§ Mr. Goldingasked the Secretary of State for Trade and Industry what target percentage return on capital has been set for the electricity boards, England and Wales, for the present year; and how that target has been calculated.
§ Sir J. EdenAs announced in October, 1969, the electricity supply industry's financial objective for the five years 1969–70 to 1973–74 is to earn a net return of 7 per cent., after depreciation on average net assets. On the advice of the Electricity Council, this objective is being applied to each of the Electricity Boards with the exception of the South Wales Board. In the latter case, in view of the Board's financial position, the 7 per cent. objective has been applied only to the last three years of the quinquennium.