HC Deb 31 July 1975 vol 896 cc629-30W
Mr. Roy Hughes

asked the Chancellor of the Exchequer if he will list the regulations or statutory provisions which prevent the release of funds held by firms operating in South Africa.

Mr. Dell

Firms operating in South Africa are subject to the South African

NATIONALISED INDUSTRIES
Subsidies, Compensation and other payments Capital Debt and Revenue Deficits Written-off
£ million £ million
to March 1975 to July 1975
National Coal Board 515.9(2) 864.6(7)
Electricity Industry (England and Wales) 314.2(3)
Electricity Industry (Scotland) 27.6(3)
British Gas Corporation 78.3(3)
British Steel Corporation 350.0(8)
Post Office 133.2(3) 177.4
British Airways Board 48.0(4) 135.0(9)
British Airports Authority 4.2
British Transport Commission 259.7 487.4
British Railways Board 2,010.5 (5) 1,451.1(10)
London Transport Board (1) 41.2 269.8
British Transport Docks Board
British Waterways Board 33.7 15.5
National Freight Corporation 42.7
National Bus Company 36.7(6)
Scottish Transport Group 10.9(6)
(1) The London Transport Board ceased to be a nationalised industry on 1st January 1970.
(2) In addition, regional grants to the National Coal Board amounting to £37.8 million in respect of 1974–75 have been paid in the current financial year.
(3) In addition, the industries have been advised that subject to the enactment of the Statutory Corporations (Financial Provisions) Bill and to parliamentary approval as provided in Clause 1 of the Bill, the Government intends to pay compensation in the current financial year for price restraint in respect of 1974–75 as follows:
£ million
Electricity Industry (England and Wales) 257.6
Electricity Industry (Scotland) 22.6
British Gas Corporation 42.3
Post Office 307.0
(4) Comprises grants made to BOAC and BEA in respect of deficits incurred in the period 1945–54.
(5) Payments to Passenger Transport Executives in respect of their payments for BR services are included.
(6) Grants towards bus fuel duty are excluded. Since this table covers specific Central Government grants only, local authority subsidies to bus services are also excluded, except for the Central Government contribution to local authority subsidies to rural bus services. Certain grants included in the totals are also available to other operators in the industry.
(7) Includes £90.8 million in respect of accumulated revenue losses at March 1965, £24.8 million provision for revenue losses in the year ended March 1966 and £174.6 million in respect of accumulated revenue losses to March 1973.

exchange control rules and it is these regulations, over which Her Majesty's Government have no influence, that prevent the release of funds.