HC Deb 31 July 1978 vol 955 cc78-9W
Dr. Bray

asked the Chancellor of the Exchequer what steps he proposes to take to implement the recommendations of the Committee on Policy Optimisation.

Mr. Robert Sheldon

I shall be increasing the Treasury's research effort in the area of macro-economic modelling, forecasting and policy analysis and developing the existing arrangements for liaison with academic and other research workers. The principal changes planned are:

  1. 1. The appointment of three professional economists whose main responsibility will be for research including the evaluation and application of research done elsewhere.
  2. 2. Increased use of part-time academic consultants.
  3. 3. Appointment of an independent chairman to the existing advisory academic panel.
  4. 4. Extension of the functions of the academic panel to include advice to the chief economic adviser on the strategy and priorities for macro-economic research within the Treasury.

The potential contribution of policy optimisation methods will continue to be studied within the Treasury and it will be open to the Treasury's research staff and

NATIONALISED INDUSTRIES
£million
1975–76 1976–77 1977–78
(a) Revenue Account Surpluses (Deficits)*
National Coal Board … … … 5.3 27.2 20.4
Electricity Council and Boards … … … 8.5 206.5 132.8
North of Scotland Hydro-Electric Board … … … 0.1 5.9 1.8
South of Scotland Electricity Board … … … 2.7 22.3 5.6
British Gas Corporation … … … 25.1 31.5 103.9
British Steel Corporation … … … (254.9) (95.0) (443.4)
Post Office … … … 147.8 290.6 367.3
British Airways Board … … … (16.3) 35.1 32.5
British Airports Authority … … … 5.2 1.9 5.4
British Shipbuilders … … … — — †
1975 1976 1977
British Railways Board … … … 5.5 5.3 27.0
British Transport Docks Board … … … 0.8 6.2 7.3
British Waterways Board … … … (8.0) (9.9) (11.9)
National Freight Corporation … … … (31.0) (15.3) (9.5)
National Bus Company … … … (19.3) 5.8 9.6
Scottish Transport Group … … … (3.3) (0.9) 1.0
British National Oil Corporation … … … — (1.3) (1.9)
British Aerospace … … … — — 29.4

1975–76 1976–77 1977–78
(b) Compensation for Price Restraint‡
Electricity Council and Boards … (1974–75) 257.6 — —
(1975–76) 43.4 13.1 —
North of Scotland Hydro-Electric Board … (1974–75) 2.3 — —
South of Scotland Electricity Board … (1974–75) 20.3 — —
British Gas Corporation … (1974–75) 23.5 5.4 —
Post Office … (1974–75) 307.0 — —
(1975–76) 15.0 -5.8 —
* After depreciation, interest and grants for specific purposes and, where applicable, extraordinary items, minority interests and taxation. Before, where applicable, compensation for price restraint, other special grants to meet deficits on revenue account and dividend on public dividend capital.
† Annual report and accounts not yet available.
‡ Compensation paid under the Statutory Corporations (Financial Provisions) Acts 1974 and 1975. Amounts are shown under the years in which payments were made; the years in which compensation accrued are shown in brackets.