§ Mr. RiddickTo ask the Chancellor of the Exchequer what were(a) the tax revenues received from, (b) the subsidy provided to and (c) the net cost or revenue of the nationalised industries in each of the five years to 1979.
§ Mr. DorrellThe information is not available in the format requested. However, the total external financing provided for the nationalised industries in the years 1975–76 through to 1978–79 was as follows:
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Profits1 of privatised companies while in the public sector £ million Pre-tax profit prior to privatization Company Year of privatisation 5 years prior 4 years prior 3 years prior 2 years prior Final year in public sector British Aerospace 1981 — — — 50.3 52.8 Cable and Wireless 1981 — — 59.4 61.0 64.1 Amersham International 1982 — — 6.0 4.0 4.8 NFC 1982 — — — — 4.3 Britoil 1982 — — — 294.0 423.1 Associated British Ports 1983 — 22.4 11.5 -10.3 5.5 International Aeradio 1983 — — — — 13.3 Enterprise Oil 1984 — — — — 283.2 Jaguar 1984 — -47.3 -31.7 9.6 50.0 Sealink 1984 — — — — 12.8 BT 1984 424.0 570.0 936.0 1031.0 990.0 MacBrayne Haulage 1985 — — — — 0.1 British Gas3 1986 430.0 803.0 918.0 723.0 800.0 British Airways 1987 -108.0 74.0 185.0 191.0 195.0 Royal Ordnance 1987 — — — 26.0 29.0 Rolls-Royce 1987 — -115.0 26.0 81.0 120.0 BAA3 1987 — 84.0 104.0 119.0 122.0 British Steel3 1988 -229.0 -378.0 42.0 177.0 419.0 Harland and Wolff 1989 -35.8 -37.1 -75.6 -25.1 -28.8 Short Brothers 1989 0.5 -37.2 -19.9 -142.5 -353.7 Anglian Water 1989 21.1 37.4 52.2 58.7 73.4 Northumbrian Water 1989 0.1 3.0 7.1 10.8 10.1 North West Water 1989 -26.0 -6.9 8.9 25.3 44.3 Severn Trent 1989 -17.8 39.0 52.0 96.6 97.5 Southern Water 1989 22.0 36.9 47.3 59.3 65.1 South West Water 1989 20.6 23.9 28.1 33.5 38.1 Thames Water 1989 99.4 144.1 151.1 180.7 207.2 Welsh Water 1989 -12.8 -3.5 11.9 16.4 24.9 Wessex Water 1989 9.9 15.0 21.5 25.0 24.1 Yorkshire Water 1989 18.4 22.2 37.0 56.7 55.7 Eastern Electricity 1990 88.0 100.5 99.9 119.0 124.4 East Midlands Electricity 1990 48.2 70.9 81.9 87.0 90.9 London Electricity 1990 84.7 95.6 96.2 112.7 126.2 Manweb 1990 26.9 33.1 28.5 39.5 37.7 Midlands Electricity 1990 64.5 68.2 62.0 76.6 88.9 Northern Electric 1900 48.1 48.7 47.1 58.0 66.1 Norweb 1990 53.9 59.5 53.3 65.8 71.7 Seeboard 1990 47.6 57.7 44.0 58.0 57.6 Southern Electric 1990 69.2 92.5 79.4 113.8 128.2 South Wales Electricity 1990 24.9 31.6 21.0 30.8 26.2 South Western Electricity 1990 47.6 45.6 32.2 55.8 66.1 Yorkshire Electricity 1990 55.3 64.5 71.8 90.2 109.5 National Grid 1990 — — — — 428.6 National Power 1991 — — — — 178.0 PowerGen 1991 — — — — 233.6
Total external financing £ million1 1975–76 4,756 1976–77 3,275 1977–78 1,822 1978–79 2,367 1 1980 survey prices. Taken as a whole, there was no net revenue from the nationalised industries in these years.