§ Mr. BattleTo ask the Chancellor of the Exchequer what has been the net subsidy to the nuclear generation industry from the Exchequer in 1995 prices in each year since 1996 to the proposed privatisation date of British Energy. [12474]
§ Mr. JackA public corporation's external finance requirement consists broadly of net flows of funds from the Government to the company, plus any net borrowing by the company. The external financing requirements of Nuclear Electric and Scottish Nuclear have been as follows since 1990–91, in 1994–95 prices (million):
Nuclear Electric Scottish Nuclear 1990–91 1,384 -2 1991–92 1,287 27 1992–93 1,039 15 1993–94 740 -29 1994–95 483 -48 Note:
1. Negative numbers indicate positive net cash generation by the industry. These funds will have been used for both revenue and capital expenditure. In the years concerned, Nuclear Electric and Scottish Nuclear's expenditure on fixed assets was as follows, in 1994– prices (million £):
Source:
"Public Expenditure", Cm 2821, HM Treasury 1995. Financial year GDP deflator.
Nuclear Electric Scottish Nuclear 1990–91 709 42 1991–92 770 49 1992–93 512 58 1993–94 410 50 1994–95 239 35 Source:
Industry figures. Financial year GDP deflator.
Prior to 1990, the Central Electricity Generating Board and the South of Scotland Electricity Board were responsible for most nuclear generation in the UK. The accounts of those companies did not separately identify detailed financial information on nuclear generation.