§ Mr. Roy Hughesasked 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. DellFirms 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: 630W
£ 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.