HC Deb 17 January 1984 vol 71 cc182-3W
Mr. D. E. Thomas

asked the Secretary of State for Energy if he will make a statement on his Department's estimate of the effects on the National Coal Board's profitability of the depreciation in the value of the pound sterling since March 1984.

Mr. David Hunt

This is essentially a matter for the NCB. Depreciation of the pound against the dollar should, on balance, have a beneficial impact on the NCB's profitability, but this will be very small in comparison with the losses that were being incurred and those resulting from the damage to coal faces and market prospects by the present unjustified industrial action by some sections of the NUM.