§ Mr. Kennedyasked the Secretary of State for Scotland if he is considering any alterations to the current treatment of profits accruing through the sale of shares and investments in companies in which the Scottish Development Agency and the Highlands and Islands Development Board, respectively, have existing interests; and if he will make a statement.
§ Mr. Allan StewartIn planning the public expenditure provision for these bodies, account is taken of the total receipts each expects to receive. These can include those accruing from the realisation of investments, including shares; the amount of which can be either greater or less than their original cost. As provision is both planned and provided on a cash flow basis, the question of profits or losses accruing from individual assets does not arise directly. The question of whether to allow unanticipated excess receipts to increase gross expenditure on activities financed by the grant-in-aid will continue to be considered if, and when, it arises in the light of all the circumstances prevailing at the time.
§ Mr. Kennedyasked the Secretary of State for Scotland if he will state the profits accruing, respectively, to the Scottish Development Agency and the Highlands and Islands Development Board through the sale of shares and investments in companies in which they have had interests for each of the years since 1980.
§ Mr. Allan StewartInformation on the performance of each body in respect of their investments is contained in their annual accounts, copies of which are obtainable in the Library.
Profits (losses in brackets) on the disposal of shares in companies are as follows: 278W
£'000 Financial Year SDA HIDB 1980–81 171 Nil 1981–82 (13) 11 1982–83 (21) (57) 1983–84 466 53 1984–85 918 192