§ Mr. HardyTo ask the Chancellor of the Exchequer what is the total sale price received and the net asset value of each public undertaking sold since 1980.
§ Mr. Peter Lilley[pursuant to his reply, 23 February 1990, c. 963]: I regret that the table relating to my answer was omitted; it is as follows:
267W
£ million Company1 Date of privatisation Gross proceeds from sale Net asset value at privatisation2 British Aerospace 1981 3150 296 1985 4551 445 Cable and Wireless 1981 5224 152 1983 275 117 1985 933 166 Amersham International 1982 671 28 National Freight Consortium 1982 753.5 45.3 Britoil 1982 549 113 1985 449 234 Associated British Ports 1983 22 73 1984 52 77 Enterprise Oil 1984 392 117 British Telecom 1984 3,916 3,007 British Gas 1986 5,434 5,181 British Airways 1987 900 619 Royal Ordnance 1987 190 227 Rolls-Royce 1987 1,363 789 BAA 1987 1,281 694 British Petroleum 1983 566 638 (residual sale) 1987 87,240 3,199 National Seed Development Organisation 1987 27 15.4 Professional and Executive Recruitment 1988 6 1.2 Rover Group 1988 9150 10881 British Steel 1988 2,500 3,594 General Practice Finance Corporation 1989 15.7 5.6 Shorts 1989 30 30 Harland and Wolff 1989 6 6 1 Excluding sales of subsidiaries by Nationalised Industries. 2 Historic cost basis. For sales of less than 100 per cent, the net asset value for the proportion sold has been given. 3 £50m to HMG. 4 £363m to HMG. 5 £189m to HMG. 6 £65m to HMG. 7 Net £6.5m after Government funding of pension liabilities. 8 £5,725m to HMG. 9 To be received by 30 March 1990. 10 Includes Government cash injection of £547m.