§ Mr. Ridleyasked the Chancellor of the Exchequer how much was budgeted, for 1972–73, for losses by the nationalised industries, and for loss of interest on their capital; and what is his latest estimate for the out-turn of these figures for the year.
§ Mr. Patrick JenkinOn 31st October my right hon. Friend the Prime Minister gave the latest estimate of the combined deficits of the nationalised industries in 175W the current financial year as £240 million. This estimate, made about half way through the financial year, is, of course, subject to a considerable margin of uncertainty. The final deficits will be dealt with in various ways, which in some cases will involve legislation.
The only relevant grants provided for in the main Estimates for 1972–73 are the £34 million to the British Railways Board and the National Bus Company under the Transport (Grants) Act 1972. The Winter Supplementaries include a further £40 million towards the cash shortfall of the Railways Board, and a further provision for this may be sought in the Spring Supplementaries.