§ Mr. Skeetasked the Chancellor of the Exchequer what was the rate of return on net assets of the British Gas Corporation for each of the past 10 years; and whether it is intended that the Corporation should reach realistic goals recommended in the 1967 Command Paper.
§ Mr. BennI have been asked to reply.
The annual net rate of return on assets employed by the British Gas Corporation for each of the past 10 years, expressed after depreciation but before interest and Government compensation for price restraint, has been:
percentage 1965–66 5.4 1966–67 4.8 1967–68 3.8 1968–69 6.7 1969–70 6.5 1970–71 6.2 1971–72 7.2 1972–73 7.3 1973–74 5.4 1974–75 5.5 At present the return obtainable is constrained by the requirements of the Price Code. Financial objectives will be set as soon as circumstances permit, and it is thought right to do so.
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