Mr. Batesasked the Secretary of State for Industry whether he will make a statement about the future of the Maritime Science and Ship Divisions of the National Physical Laboratory.
§ Mr. VarleyI have decided that the work of the Maritime Science and Ship Divisions of the National Physical Laboratory can best be furthered by their incorporation into a new National Maritime Institute which will shortly be set up within my Department. The setting up of the institute will mark a further stage in the devolution of activities from the National Physical Laboratory which will be able to concentrate increasingly on its primary rôle as the national centre for standards. Mr. J. W. Nichols has been appointed Director-designate of the National Maritime Institute.
502WThis comprised a £200 million reduction in public dividend capital and £150 million in borrowings from the National Loans Fund. Against this, £131.5 million had been written off by 29th March 1975.
Post Office write-offs amounted to £130.6 million in 1972–73 and £46.8 million in 1973–74. The Post Office (Banking Services) Bill now before Parliament proposes that the Post Office indebtedness to the National Loans Fund should be reduced by £29.7 million of which £13 million would be recreated into the form of public dividend capital.