HC Deb 25 July 1988 vol 138 cc104-6W
Mr. Gordon Brown

To ask the Chancellor of the Exchequer if he will publish in theOfficial Report a table in cash terms showing for each of the years 1979–80 to 1988–89 for each of the organisations which has been included in at least one year in the equivalent of table 4.1 of Cm. 288, those asset sales not included in Table 1/'s line for privatisation proceeds together with appropriate totals; whether these proceeds have directly accrued to the Exchequer or have remained in the relevant businesses; and, where these have been set, if he will publish the target proceeds from such asset sales which have been set in the appropriate investment and financing review.

Mr. Norman Lamont

[holding answer 18 July 1988]: Actual or forecast receipts from asset sales included in the nationalised industries' internal resources figures shown in table 4.5 of Cm. 288 for 1979–80 to 1988–89 are shown in the table. The total amount in the 1988–89 plans is £303 million.

Proceeds from the sale of assets are a source of internally generated funds for nationalised industries and do not directly accrue to the Exchequer although they do reduce the industries' need for external finance. Expected asset sale receipts are always taken into account when

1979–80 £ million 1980–81 £ million 1981–82 £ million 1982–83 £ million 1983–84 £ million 1984–85 £ million 1985–86 £ million 1986–87 £ million 1987–88 £ million 1988–89 £ million
British Coal 28 21 24 22 24 22 28 64 61 45
Electricity (England and Wales) 16 10 17 21 23 27 30 23 40 —
North of Scotland and Hydro-Electric Board — — 1 1 1 5 1 1 3 —
South of Scotland Electricity Board — 1 1 1 1 2 1 2 3 —
British Gas Corporation 8 7 7 7 13 95 24 20 — —
British Steel Corporation 21 59 66 68 19 98 24 29 65 —
British Telecom 77 — — — — — — — — —
Post Office (Posts Businesses) 19 9 7 3 6 7 62 21 24 27
Girobank — — — — — — 2 — — —
British Airways Board 11 15 15 77 11 31 23 4 — —
British Airports Authority — — — — 1 — 1 2 — —
British Railways Board 31 48 34 99 99 160 85 95 187 213
British Transport Docks Board 1 1 1 — — — — — — —
British Waterways Board — — — — — 2 2 1 6 4
National Freight Company Ltd. 10 17 18 — — — — — — —
National Bus Company 4 11 6 6 7 8 11 13 46 —
Scottish Transport Group 1 1 — — 1 1 1 1 2 2
British National Oil Corporation — — — — — — — — — —
British Aerospace — — — — — — — — — —
British Shipbuilders 3 2 2 2 13 5 3 4 3 —
Civil Aviation Authority — — 1 — — — — — 2 1
Water (England and Wales) 10 13 16 11 13 21 25 27 26 —
Enterprise Oil — — — — — — — — — —
London Regional Transport — — — — — — 16 24 73 50

Notes:

(1) Figures individually rounded to nearest £1 million. 1987–88 figures are provisional.

(2) Where industries have been privatised, the figures given relate to the period up to privatisation.

(3) 1988–89 figures relate to industries' present estimates; due to impending privatisation figures are not shown separately for Electricity (E & W), the Scottish Electricity Boards, British Steel Corporation, Girobank and Water (E & W).

Mr. Gordon Brown

To ask the Chancellor of the Exchequer if he will list in theOfficial Report those nationalised industries and public corporations with entries appearing in table 4.1 of Cm. 288 for which privatisation proposals have been announced, citing appropriate references to ministerial statements and placing copies in the Library.

Mr. Norman Lamont

[holding answer 18 July 1988]: The following is a list of those nationalised industries and public corporations with entries appearing in table 4.1 of Cm. 288 for which privatisation proposals have been announced, citing appropriate references to ministerial statements.

  • British Steel Corporation 3 December 1987. (OR, col. 1107).
  • Electricity (England and Wales) 25 February 1988 (OR, col. 454).
  • Girobank 7 June 1988 (OR, col. 713).
  • North of Scotland Hydro-Electric Board and South of Scotland Electricity Board. 2 March 1988 (OR, col. 975).
  • Scottish Transport Group 27 January 1988 (OR, col. 311).
  • Water (England and Wales) 5 February 1986 (OR, col. 287).
  • Crown Agents 23 February 1984 (OR, col. 991).
  • Crown Suppliers 3 February 1988 (OR, col. 983).
setting an industry's external financing limits in the investment and financing review, but formal disposal targets are not set.

  • General Practice Finance Corporation November 1987 announced in White Paper Cm. 249 (1987)

The Government have also commissioned a feasibility study into privatising British Technology Group 13 April 1988 (OR, col. 163).

The Government have also announced privatisation proposals for the following subsidiaries of nationalised industries and public corporations.

  • British Rail: BREL 24 November 1987 (OR, col. 141).
  • British Shipbuilders: Govan yard and other facilities 18 April 1988 (OR, col. 554).

Back to