§ Mr. J. H. Osbornasked the Chancellor of the Exchequer (1) what is his estimate of the book value of the nation's assets in land, property, plant, manufacturing capacity, and transport, exchange, and distribution facilities; how much of this is held by the state, or by local authorities, and how much in private hands; and how the position has changed since 1st April, 1970, 1965, 1960, 1955. 1950 and 1945, respectively;
(2) what is his estimate of the book value of the nation's assets in land, property, plant, manufacturing capacity, and transport, exchange and distribution facilities; what estimate he has made of the current market value; and how the position has changed since 1st April, 1970, 1965, 1960, 1955, 1950 and 1945, respectively.
§ Mr. HigginsThe only comprehensive official figures of the value of the nation's assets are those for the net capital stock at current replacement cost published annually in the National Income Blue Book. These cover assets in the form of vehicles, plant, machinery and buildings but exclude land, works of art and all buildings more than 100 years old, financial assets and working capital. Assets are valued at current replacement cost less accumulated capital consumption (depreciation) and can thus be taken as an approximation to market value. Figures are not available before 1955 and those for 1970 will not be ready until later in the year. The figures for 1955–1969 are given in the table below.
NET CAPITAL STOCK AT CURRENT REPLACEMENT COST* £ thousand million 1955 1960 1965 1969 Central Government 2.0 2.8 2.8 4.2 Local authorities 9.5 11.9 16.9 24.4 Public Corporations 5.2 7.1 12.0 18.4 Private Sector 23.6 30.8 45.0 55.5 Total 40.3 52.6 76.7 102.5 *As defined for Table 61 of National Income and Expenditure 1970. Figures relate to end of year.