British Gas Corporation

HC Deb 08 March 1982 vol 19 c289W

23. Sir William van Straubenzee

asked the Secretary of State for Energy whether he has set British Gas Corporation a profit target to be met in the year 1982–83.

Mr. Lawson

British Gas' current financial target is to achieve a pre-tax return of 3.5 per cent. on net assets at current cost over the three-year period 1980–81 to 1982–83.

25. Mr. John Hunt

asked the Secretary of State for Energy when he expects to announce the new financial target for the British Gas Corporation for the period from March 1983 onwards.

Mr. Lawson

After consultation with the British Gas Corporation, I expect to announce an agreed financial target for years subsequent to 1982–83 later this year.