§ Mr. Bruce-Gardyneasked the Chancellor of the Exchequer what was the amount of public dividend capital on issue at the end of the financial year 1971–72; and what was the percentage return on this capital.
§ Mr. HigginsThe amount of public dividend capital outstanding at 31st March 1972 was £565 million, of which £500 million was held by the British Steel Corporation and £65 million by British266W Overseas Airways Corporation—now part of the British Airways Board.
BOAC had a deficit of £1.4 million for the year but paid from its reserves a dividend of 5 per cent. equal to £3.25 million; the British Steel Corporation, which had a deficit of £68 million for the year, declared no dividend.