§ Lord Granville of Eyeasked Her Majesty's Government:
Whether there are any statutory provisions governing the nationalised industries which would prevent trades unions from investing their superannuation funds in these industries while exchanging executives on each of their controlling bodies.
§ Lord CockfieldThe present structure of nationalised industry financing would not in general permit investment of the kind the noble Lord has in mind but certain limited permissive powers have been added to the British Telecoms Bill.
Appointments to the board of nationalised industries are the responsibility of the appropriate Minister. The Government see no reason why this position should be changed.
§ Lord Harris of High Crossasked Her Majesty's Government:
What has been the total cost for each year since 1970 of current subsidies, capital grants, writing off of capital and issues of public dividend capital for each nationalised industry; all figures to be expressed in 1979 survey prices and current prices.
§ Lord CockfieldFollowing is the information:
1045WA
NATIONALISED INDUSTRIES TABLE 1(b)—Current Grants* £ million 1979 survey prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board 30 285 25 303 395 158 69 83 170 209 Electricity (England and Wales) 2 2 48 213 336 458 30 9 5 5 Electricity (Scotland) — — — 24 26 34 72 15 7 9 British Gas Corporation 2 — — 73 76 35 7 — — — British National Oil Corporation — — — — — British Steel Corporation — — — — — — — — — — Post Office — — — 22 231 477 —7 — — — British Airways Board — — — — — — — — — — British Airports Authority — — — — — — — — — — British Railways Board 205 189 363 404 842 714 580 541 495 577 London Transport Board 5 British Transport Docks Board — — — — — — — — — — British Waterways Board 5 7 7 8 10 12 13 15 18 18 National Freight Corporation 34 20 9 3 — 11 38 34 8 5 National Bus Company — 1 17 1 — — — — — — Scottish Transport Group 2 2 3 3 3 6 4 4 4 3 British Aerospace — — — British Shipbuilders 30 11 27 *Including compensation for price restraint paid under the Statutory Corporation (Financial Provisions) Acts 1974 and 1975 to the Electricity and Gas industries and the Post Office. Amounts are shown in all cases against the year in which payment was made, although some payments relate to earlier years. 1046WA1047WA
NATIONALISED INDUSTRIES TABLE 2(a)—Capital Grants £ million Current (outturn) prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board — — — — — — — — — — Electricity (England and Wales) — — — — — — — — — — Electricity (Scotland) — — — — — — — — — — British Gas Corporation — — — — — — — — — — British National Oil Corporation — — — — — British Steel Corporation — — — — — — — — — — Post Office — — — — — — — — — — British Airways Board — — — — — — — — — — British Airports Authority — — — 0.6 3.6 4.8 9.0 4.6 0.7 0.4 British Railways Board 1.0 1.2 11.1 17.0 22.4 8.0 8.8 4.3 1.6 1.0 British Transport Docks Board — — — — — — — — — — British Waterways Board 1.2 0.7 1.2 1.3 1.3 1.5 1.7 2.1 1.8 1.6 National Freight Corporation — — — — — — — — 6.0 5.0 National Bus Company 1.9 3.8 5.7 6.1 8.0 11.9 14.1 19.0 19.4 23.0 Scottish Transport Group 0.3 0.5 1.1 1.2 1.6 2.5 3.1 3.4 5.4 6.1 British Aerospace — 50.0* — British Shipbuilders 0.3 0.3 0.1 *Provided as a grant to BAe, but converted to public dividend capital in 1979–80.
NATIONALISED INDUSTRIES TABLE 2(b)—Capital Grants £ million 1979 survey prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board — — — — — — — — — — Electricity (England and Wales) — — — — — — — — — — Electricity (Scotland) — — — — — — — — — — British Gas Corporation — — — — — — — — — — British National Oil Corporation — — — — — British Steel Corporation — — — — — — — — — — Post Office — — — — — — — — — — British Airways Board — — — — — — — — — — British Airports Authority — — — 1 6 7 11 5 1 — British Railways Board 3 3 26 36 41 12 11 5 2 1 British Transport Docks — — — — — — — — — — British Waterways Board 3 2 3 3 2 2 2 2 2 1 National Freight Corporation — — — — — — — — 6 4 National Bus Company 5 10 13 13 15 17 18 21 19 20 Scottish Transport Group 1 1 3 3 3 4 4 4 5 5 British Aerospace — 50* — British Shipbuilders — — — *Provided as a grant to BAe, but converted to public dividend capital in 1979–80.
NATIONALISED INDUSTRIES TABLE 3(a)—Capital Write-offs £ million Current (outturn) Prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board — — 449.6 — — — — — — — Electricity (England and Wales) — — — — — — — — — — Electricity (Scotland) — — — — — — — — — — British Gas Corporation — — — — — — — — — — British National Oil Corporation — — — — — British Steel Corporation — — 350.0 — — — — — — — Post Office — — 130.6 46.8 — 29.7 — — — — British Airways Board — — — — — — — — — — British Airports Authority — — — — — — — — — — British Railways Board — — — — 188.7 — — — — — British Transport Docks Board — — — — — — — — — — British Waterways Board — — — — — — — — — — National Freight Corporation — — — — — — — — 53.1 — National Bus Company — — — — — — — — — — Scottish Transport Group — — — — — — — — — — British Aerospace — — — — British Shipbuilders — — — — 1048WA1049WA
NATIONALISED INDUSTRIES TABLE 3(b)—Capital Write-offs £ million 1979 survey prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board — — 1,056 — — — — — — — Electricity (England and Wales) — — — — — — — — — — Electricity (Scotland) — — — — — — — — — — British Gas Corporation — — — — — — — — — — British National Oil Corporation — — — — — British Steel Corporation — — 822 — — — — — — — Post Office — — 308 100 — 44 — — — — British Airways Board — — — — — — — — — — British Airports Authority — — — — — — — — — — British Railways Board — — — — 350 — — — — — British Transport Docks Board — — — — — — — — — — British Waterways Board — — — — — — — — — — National Freight Corporation — — — — — — — — 53 — National Bus Company — — — — — — — — — — Scottish Transport Group — — — — — — — — — — British Aerospace — — — — British Shipbuilders — — — —
NATIONALISED INDUSTRIES TABLE 4(a)—Issuse of public Dividend Capital† £ million Current (outturn) prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board — — — — — — — — — — Electricity (England and Wales) — — — — — — — — — — Electricity (Scotland) — — — — — — — — — — British Gas Corporation — — — — — — — — — — British National Oil Corporation — — — — — British Steel Corporation — — — — 45 345 490 445 850 905 Post Office — — — — — 13 — — 4 — British Airways Board — — 60 11 80 64 10 10 10 10 British Airports Authority — — — — — — — — — — British Railways Board — — — — — — — — — — British Transport Docks Board — — — — — — — — — — British Waterways Board — — — — — — — — — — National Freight Corporation — — — — — — — — — — National Bus Company — — — — — — — — — — Scottish Transport Group — — — — — — — — — — British Aerospace 27 50* 33 British Shipbuilders — — 236 †Including, from 1978–79, subscriptions of capital issued to BSC under Section 18 of the Iron and Steel Act 1975. *Provided as a grant to BAe in 1978–79, but converted to PDC in 1979–80.
NATIONALISED INDUSTRIES TABLE 4(b)—Issues of Public Dividend Capital† £ million 1979 survey prices 1970–71 1971–72 1972–73 1973–74 1974–75 1975–76 1976–77 1977–78 1978–79 1979–80 National Coal Board — — — — — — — — — — Electricity (England and Wales) — — — — — — — — — — Electricity (Scotland) — — — — — — — — — — British Gas Corporation — — — — — — — — — — British National Oil Corporation — — — — — British Steel Corporation — — — — 80 486 610 489 850 772 Post Office — — — — — 18 — — 4 — British Airways Board — — 137 23 142 90 12 11 10 9 British Airports Authority — — — — — — — — — — British Railways Board — — — — — — — — — — British Transport Docks Board — — — — — — — — — — British Waterways Board — — — — — — — — — — National Freight Corporation — — — — — — — — — — National Bus Company — — — — — — — — — — Scottish Transport Group — — — — — — — — — — British Aerospace 30 50* 28 British Shipbuilders — — 201 †Including, from 1978–79, subscriptions of capital issued to BSG under Section 18 of the Iron and Steel Act 1975. *Provided as a grant to BAe in 1978–79, but converted to PDC in 1979–80.