§ Mr. Deakinsasked the Chancellor of the Exchequer what are the differences between (a) depreciation, (b) current cost depreciation, (c) full current cost depreciation, (d) supplementary depreciation, (e) historic and supplementary depreciation. (f) historic depreciation and (g) replacement cost depreciation, set out in his parliamentry answer of 29 July to the hon. Member for Renfrewshire, East (Mr. Stewart); and why it is necessary to have so many different types of depreciation when setting financial targets for the nationalised industries.
§ Mr. BiffenFinancial targets are set on the basis of the accounting policies of the industries concerned and the terminology used is derived from them. This accounts for the difference in the treatment of depreciation as between the industries listed in my answer of 29 July to my hon. Friend the Member for Renfrewshire East (Mr. Stewart). These differences should be progressively reduced with the application of current cost accounting on the lines set out in my reply to my hon. Friend the Member for Chipping Barnet (Mr. Chapman) of 21 December 1979—[Vol. 976, c.454]. Details of existing depreciation policies are to be found in the latest annual report and accounts of each industry.
§ Mr. Stuart Hollandasked the Chancellor of the Exchequer what proportion of 416W the net increase in borrowing from Government and capital transfer was represented by the nine major nationalised industries, British Airways, British Gas, the British Steel Corporation, the electricity industry, the Post Office, the National Bus Company, the National Freight Corporation, British Railways and the National Coal Board in 1974, 1975. 1976, 1977, 1978 and 1979; and what proportion of the net increase in other borrowing was represented by these industries in these years.
§ Mr. Biffen[pursuant to his reply, 28 July 1980, c. 478]: I regret that in the time available it has not been possible to provide the information requested. I shall write to the hon. Member.