Nationalised Industries (Finances) (Hansard, 5 April 1974)

§ Mr. Ralph Howell
asked the Chancellor of the Exchequer if he will publish a table for each of the nationalized industries, showing net profit, after interest, as a percentage of gross fixed

NATIONALISED INDUSTRIES: PERCENTAGE OF FIXED INVESTMENT FINANCED FROM INTERNAL RESOURCES

1959–60 1960–61 1961–62 1962–63 1963–64

National Coal Board 30.7 64.5 65.1 100.0 86.5

Electricity Boards (England and Wales) 39.9 42.7 45.4 47.2 46.4

North of Scotland Hydro Electric Board 26.1 36.9 46.7 32.0 25.8

South of Scotland Electricity Board 27.7 36.0 24.4 29.3 40.6

British Gas Corporation 51.7 71.1 75.3 63.2 47.8

British Steel Corporation — — — — —

Post Office — — 66.0 69.3 61.2

BOAC British Airways Board 59.7 59.5 35.0 100.0 75.4

BEA 44.2 41.6 22.1 100.0 100.0

British Airports Authority — — — — —

British Transport Commission 39.1 40.2 45.9 60.8 —

British Railways Board — — — — 76.8

London Transport Board — — — — 42.3

British Transport Docks Board — — — — 100.0

British Waterways Board — — — — 37.5

Transport Holding Company — — — — 100.0

National Freight Corporation — — — — —

National Bus Company — — — — —

Scottish Transport Group — — — — —

474W
investment in 1955, 1960, 1970, 1971, 1972 and 1973.

§ Mr. Joel Barnett
The annual surpluses and deficits of the nationalised industries, inclusive of certain grants from the Government, are shown in table A printed in the OFFICIAL REPORT on 1st April in reply to an earlier Question from the hon. Member.—[Vol. 871, c.257–260.] It would not be meaningful to show those figures as a percentage of gross fixed investment in the years in question.

§ Mr. Ralph Howell
asked the Chancellor of the Exchequer if he will publish a table showing what percentage of new investment in each of the nationalised industries was self-financed (a) up to 1960, (b) 1960–70 and (c) since 1970.

§ Mr. Joel Barnett
The percentages in the following table have been derived from figures contained in the series of White Papers on loans from the National Loans Fund which show fixed investment by the nationalised industries and financing from "internal resources". The latter figures include not only the contributions from the industries' own resources but also Government subsidies to meet deficits on current account and grants paid to the industries for the provision of unremunerative services. The figures in the White Papers go back only to 1959–60 and those for earlier years could not be given without the expenditure of a disproportionate amount of time and effort.
475W

1964–65 1965–66 1966–67 1967–68 1968–69

National Coal Board 85.7 39.3 77.7 74.5 83.7

Electricity Boards (Eastern and Western) 40.9 46.3 35.5 49.1 82.2

North of Scotland Hydro Electric Board 29.3 44.3 66.7 97.4 62.1

South of Scotland Electricity Board 32.2 37.7 35.5 42.1 34.1

British Gas Corporation 59.0 43.5 20.8 13.0 34.2

British Steel Corporation — — — 79.0 100.0

Post Office 52.6 60.0 52.3 45.2 46.3

BOAC British Airways Board 96.3 100.0 100.0 81.7 98.0

BEA 77.1 88.8 79.5 50.8 41.4

British Airports Authority — — 79.7 60.9 72.3

British Transport Commission — — — — —

British Railways Board 70.3 73.9 94.0 100.0 100.0

London Transport Board 35.8 21.0 28.2 27.6 44.4

British Transport Docks Board 90.2 55.6 42.3 39.5 30.2

British Waterways Board 70.0 72.6 60.0 25.0 28.6

Tri nsport Holding Company 100.0 100.0 82.0 89.1 10.4

Naaional Freight Corporation — — — — 100.0

National Bus Company — — — — 47.8

Scotttish Transport Group — — — — 100.0

1969–70 1970–71 1971–72 1972–73 1973/14 Estimates

National Coal Board 62.8 98.7 0.0 3.4 68.8

Electricity Boards (England and Wales) 80.8 55.7 67.7 78.8 59.5

North of Scotland Hydro Electric Board 57.3 49.6 22.9 29.3 42.2

South of Scotland Electricity Board 35.3 32.6 30.8 35.2 31.9

British Gas Corporation 41.9 42.5 81.2 100.0 100.0

British Steel Corporation 100.0 63.6 14.8 40.2 39.4

Post Office 48.6 41.5 44.3 32.0 27.4

BOAC British Airways Board 72.0 67.1 37.5 100.0 89.5

BEA 100.0

British Airports Authority 100.0 100.0 100.0 100.0 75.3

British Transport Commission — — — — —

British Railways Board 100.0 64.4 38.8 78.3 51.6

London Transport Board 76.7 — — — —

British Transport Docks Board 27.3 35.0 52.4 100.0 100.0

British Waterways Board 42.9 25.0 33.3 58.3 61.5

Transport Holding Company 100.0 0.0 0.0 — —

National Freight Corporation 51.8 60.8 100.0 100.0 67.1

National Bus Company 100.0 100.0 100.0 100.0 51.7

Scottish Transport Group 60.0 67.7 100.0 80.7 83.3

NATIONALISED INDUSTRIES: PERCENTAGE OF FIXED INVESTMENT FINANCED FROM INTERNAL RESOURCES
		1959–60	1960–61	1961–62	1962–63	1963–64
National Coal Board	30.7	64.5	65.1	100.0	86.5
Electricity Boards (England and Wales)	39.9	42.7	45.4	47.2	46.4
North of Scotland Hydro Electric Board	26.1	36.9	46.7	32.0	25.8
South of Scotland Electricity Board	27.7	36.0	24.4	29.3	40.6
British Gas Corporation	51.7	71.1	75.3	63.2	47.8
British Steel Corporation	—	—	—	—	—
Post Office	—	—	66.0	69.3	61.2
BOAC	British Airways Board	59.7	59.5	35.0	100.0	75.4
BEA	44.2	41.6	22.1	100.0	100.0
British Airports Authority	—	—	—	—	—
British Transport Commission	39.1	40.2	45.9	60.8	—
British Railways Board	—	—	—	—	76.8
London Transport Board	—	—	—	—	42.3
British Transport Docks Board	—	—	—	—	100.0
British Waterways Board	—	—	—	—	37.5
Transport Holding Company	—	—	—	—	100.0
National Freight Corporation	—	—	—	—	—
National Bus Company	—	—	—	—	—
Scottish Transport Group	—	—	—	—	—

		1964–65	1965–66	1966–67	1967–68	1968–69
National Coal Board	85.7	39.3	77.7	74.5	83.7
Electricity Boards (Eastern and Western)	40.9	46.3	35.5	49.1	82.2
North of Scotland Hydro Electric Board	29.3	44.3	66.7	97.4	62.1
South of Scotland Electricity Board	32.2	37.7	35.5	42.1	34.1
British Gas Corporation	59.0	43.5	20.8	13.0	34.2
British Steel Corporation	—	—	—	79.0	100.0
Post Office	52.6	60.0	52.3	45.2	46.3
BOAC	British Airways Board	96.3	100.0	100.0	81.7	98.0
BEA	77.1	88.8	79.5	50.8	41.4
British Airports Authority	—	—	79.7	60.9	72.3
British Transport Commission	—	—	—	—	—
British Railways Board	70.3	73.9	94.0	100.0	100.0
London Transport Board	35.8	21.0	28.2	27.6	44.4
British Transport Docks Board	90.2	55.6	42.3	39.5	30.2
British Waterways Board	70.0	72.6	60.0	25.0	28.6
Tri nsport Holding Company	100.0	100.0	82.0	89.1	10.4
Naaional Freight Corporation	—	—	—	—	100.0
National Bus Company	—	—	—	—	47.8
Scotttish Transport Group	—	—	—	—	100.0
		1969–70	1970–71	1971–72	1972–73	1973/14 Estimates
National Coal Board	62.8	98.7	0.0	3.4	68.8
Electricity Boards (England and Wales)	80.8	55.7	67.7	78.8	59.5
North of Scotland Hydro Electric Board	57.3	49.6	22.9	29.3	42.2
South of Scotland Electricity Board	35.3	32.6	30.8	35.2	31.9
British Gas Corporation	41.9	42.5	81.2	100.0	100.0
British Steel Corporation	100.0	63.6	14.8	40.2	39.4
Post Office	48.6	41.5	44.3	32.0	27.4
BOAC	British Airways Board	72.0	67.1	37.5	100.0	89.5
BEA	100.0
British Airports Authority	100.0	100.0	100.0	100.0	75.3
British Transport Commission	—	—	—	—	—
British Railways Board	100.0	64.4	38.8	78.3	51.6
London Transport Board	76.7	—	—	—	—
British Transport Docks Board	27.3	35.0	52.4	100.0	100.0
British Waterways Board	42.9	25.0	33.3	58.3	61.5
Transport Holding Company	100.0	0.0	0.0	—	—
National Freight Corporation	51.8	60.8	100.0	100.0	67.1
National Bus Company	100.0	100.0	100.0	100.0	51.7
Scottish Transport Group	60.0	67.7	100.0	80.7	83.3