§ Mr. Allan Stewartasked the Chancellor of the Exchequer if he will publish a table showing for each of the nationalised industries (a) their annual surpluses or deficits, after tax, interest and extraordinary items, in each of the years 1977–78, 1978–79 and 1979–80 and (b) the subsidies received by each of these industries in each of these years.
§ Mr. BiffenFollowing is the information: 151W
152W153W
NATIONALISED INDUSTRIES £ million (a) Surplus (Deficits)* (b) Grantst† 1977–78 1978–79 1979–80 1977–78 1978–79 1979–80 (provisional) National Coal Board … … … … … 20.9 (19.4) (159.3) 74.4 170.0 243.5 Electricity Council and Boards … … … … 132.8 251.4 37.2 7.8 5.3 5.5 North of Scotland Hydro-Electric Board … … 1.8 2.1 1.7 13.2 6.6 10.9 South of Scotland Electricity Board … … … 5.6 9.5 0.1 — — — British Gas Corporation … … … … … 103.9 172.3 204.6 — — — British Steel Corporation … … … … … (443.4) (309.0) (1,784.0) — — — Post Office … … … … … … … 367.7 375.1 ‡ — — — British Airways Board … … … … … 36.9 77.3 10.5 — — — British Airports Authority … … … … … 15.4 15.6 23.0 4.6 0.7 0.4 British Shipbuilders … … … … … (93.4) (60.2) (152.3) 27.5 10.9 31.3 1977 1978 1979 British Railways Board … … … … … 27.0 6.4 (0.4) 481.2 496.6 655.7 British Transport Docks Board … … … … 7.3 5.7 6.8 — — — British Waterways Board … … … … … (11.9) (13.5) (20.9) 15.2 19.9 22.6 National Freight Corporation … … … … (10.8) 0.3 2.0 30.6 13.6 11.3 National Bus Company … … … … … 10.1 17.7 6.2 19.0 19.4 23.0 Scottish Transport Group … … … … … 1.0 1.1 (0.4) 7.0 9.1 9.8 British National Oil Corporation … … … … (1.9) (3.0) 13.6 — — — British Aerospace … … … … … … 29.4 30.3 40.9 — 50.0§ — * As shown in the Annual Reports and Accounts of the industries. After depreciation (including, where applicable, supplementary depreciation as charged in the Accounts), interest and grants for specific purposes and, where applicable, extraordinary items, minority interests and taxation. Before, where applicable, special grants to meet deficits on revenue account and dividend on public dividend capital. † Excluding grants also paid to private industry (e.g. Regional Development Grants and bus fuel duty rebates). The surface Transport industry figures include payments to passenger transport executives in respect of their payments for British Rail Services; and government contributions to local authority rural bus services. ‡ Annual Report and Accounts not yet available. § Amount paid to BAe in connection with membership of Airbus Industrie. As announced to the House on 26 February 1980, it was determined that, with effect from 31 December 1979, the grant should be treated as though it were public dividend capital issued under section 16 of the Aircraft and Shipbuilding Industries Act 1977.
§ Mr. Stuart Hollandasked the Chancellor of the Exchequer what proportion of the source of funds of the nine major United Kingdom nationalised industries, British Airways, British Gas, British Steel Corporation, electricity industry, Post Office, National Bus Company, National Freight Corporation, British Railways and the National Coal Board was represented by (a) internal funding before subsidies or compensation and (b) Government subsidies or compensation in 1975, 1976, 1977, 1978 and 1979.
§ Mr. BiffenFollowing is the information:
Percentages (a) Internal Resources (b) Government Grants 1975–76 27 35 1976–77 51 16 1977–78 63 19 1978–79 60 20 1979–80 (Provisional) 48 23
§ Mr. Stuart Hollandasked the Chancellor of the Exchequer what has been the net contribution of the nationalised industries to the Exchequer and the reduction of the public sector borrowing requirement, respectively, since 1974.
§ Mr. Biffen[pursuant to his reply, 28 July 1980, c. 478]: Payment from Government funds to the nationalised industries, mainly in the form of National Loans Fund transactions, issues of public dividend capital—including issues under section 18 of the Iron and Steel Act 1975—and grants, exceeded receipts by £3,971 million in the period 1 April 1974 to 31 March 1980. The industries' share of the public sector borrowing requirement in 1979–80 was about £100 million lower than in 1974–75.
§ Mr. Stuart Hollandasked the Chancellor of the Exchequer what has been the cost of the nationalised industries to the public sector borrowing requirement since 1974.
§ Mr. Biffen[pursuant to his reply, 28 July 1980, c. 478]: £13,013 million.