§ Mr. Gordon BrownTo ask the Chancellor of the Exchequer if he will provide a table showing the expenditure on fixed assets in the United Kingdom by nationalised industries for 1978–79 and 1989–90 plans, at constant 1988–89 prices and cash prices broken down in the form of table 4.4 of Cm. 288–1, giving the percentage of the industries capital requirements financed or expected to be financed internally.
§ Mr. Major[holding answer 10 June 1988]: The table shows the expenditure on fixed assets in the United Kingdom by nationalised industries for 1978–79 (consistent with table 3.2 of Cmnd. 7841 and table 3.2 of Cmnd. 9143) and 1989–90 plans (consistent with table 4.4 of Cmnd. 288) at cash prices and in real terms (base year 1988–89). Also included are the percentages of the industries' capital requirements financed internally for 1978–79. For reasons of commercial confidentiality the Government do not publish estimates of internal resources or external finance by industry for the later years in the public expenditure plans. But the current plans imply that, taken together, the industries' capital requirements for 1989–90 can be met entirely by internal resources.
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1978–79 outturn (Cmnd. 7841) Percentage of capital requirements financed internally 1989–90 plans (Cm. 288) Cash Real terms1 (base year 1988–89) Cash Real terms1 (base year 1988–89) British Waterways Board 2 4 0.0 9 9 Civil Aviation Authority (a) 34 33 Electricity (England and Wales) 715 1,515 100.0 1,727 1,669 Girobank (b) 14 14 London Regional Transport (c) 348 336 National Bus Company 54 114 0.0 — — National Freight Company Ltd. 36 76 9.4 — — North of Scotland Hydro-Electric Board 48 102 30.7 82 79 Post Office (d) 1,040 2,204 100.0 165 159 Scottish Transport Group 17 36 16.7 17 16 South of Scotland Electricity Board 53 112 100.0 129 125 Water (England and Wales) (e) 1,255 1,213 TOTAL 3,980 8,436 54.7 5,365 5,184 1 Real terms figures are the cash outturns or plans adjusted to 1988–89 price levels by excluding the effect of general inflation as measured by the GDP deflators. Notes
(a) Civil Aviation Authority was not a Nationalised Industry in 1978–792.
(b) The figure for Girobank was included in that for Post Office for 1978–792.
(c) London Regional Transport was not a Nationalised Industry in 1978–79.
(d) The figure for Post Office included those for British Telecom and Girobank in 1978–792.
(e) Water (England and Wales) was not a Nationalised Industry in 1978–792.
2 Figures for 1978–79 were allocated retrospectively, and the details (from Table 3.2 in Cmnd. 9143-II) are as follows:
1978–79 outturn (Cmnd 9143) Cash Real terms1 Per cent.2 £ million £ million British Telecom 993 2,105 100.0 Civil Aviation Authority 23 49 0.0 Giro Bank 5 11 0.0 Post Office 43 91 100.0 Water (England and Wales) 555 1,176 43.3 1 Base year 1988–89. 2 Percentage of capital requirements financed internally.