HC Deb 04 November 1974 vol 880 cc48-9W
Mr. Newens

asked the Chancellor of the Exchequer if he will list all those assets which were previously part of publicly owned industries but which were hived off and sold to private enterprise during the period June 1970 to February 1974; and if he will indicate which were operating at a loss and which at a profit in the last year for which figures are available prior to their disposal.

Mr. Joel Barnett

The following major works or, as the case may be, investments in the companies named below, were disposed of by nationalised industries between June 1970 and February 1974:

National Coal Board

  • *Bradley's Concrete (Partnership)
  • *Bradley's (Concrete) Ltd
  • †International Reservations Ltd
  • *Treatim Ltd
  • *Midland Brick Company Ltd (a)
  • *Northern England Brick Company Ltd (a)
  • *Whittlesea Central Brick Company Ltd (a)

British Gas Corporation

  • *Printar Industries Ltd
  • *South East Tar Holdings Ltd
    • 49
  • *South West Tar Distilleries Ltd
  • *Scottish Tar Distilleries Ltd
  • *United Analysts Ltd

British Steel Corporation

  • Transport Development Group Ltd
  • Steetley Company Ltd
  • Tube Investments Ltd
  • Rylands Whitecross & Dorman Long Wiremaking Works (b)
  • Openshaw and Holme Lane Works
  • Thurcroft Brickworks
  • Belton, Crowe, Bilsthorpe and Campbell Brickworks
  • Brymbo Steelworks (c)
  • Firth Vickers Stainless Steel Ltd (d)
  • River Don drop forge plant (d)

Transport Holding Company

  • *Thomas Cooks Ltd
  • Penarth Dock Engineering Company
  • †Sir Henry Lunn Ltd (Lunn-Poly)

National Freight Corporation

  • *Atlantic Steam Navigation Company

Notes

  1. (a) The assets of these companies were sold. The companies remain as shells in NCB ownership.
  2. (b) BSC retained an interest in these concerns.
  3. (c) As part of this deal BSC acquired GKN Dowlais Ltd.
  4. (d) As part of this deal BSC acquired certain plant and facilities for stainless steel flat products.

My hon. Friend will realise that it is not generally possible to say whether a particular works, taken in isolation, is profitable or not. Nor is information readily available about the profitability of all companies in which nationalised industries have a stake. However, where information is available, profitable concerns are noted in the list above with an asterisk and unprofitable concerns with an obelus.