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Nationalisation (Compensation Payments)

Volume 524: debated on Saturday 8 May 1954

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52.

asked the Minister of Fuel and Power the total amount of compensation payment to subsidiary interests transferred to the National Coal Board under Section 10 (2) of the Coal Indus try Nationalisation Act, 1946, in respect of each of the six valuation districts for which such valuations have been completed, showing the total amount in respect of each district and the amount of such payment apportioned to each interest.

The amounts of compensation in respect of subsidiary

DistrictTotalStocksand storesMain-line wagonsMiscellaneous
££££
North Staffordshire2,174,641915,021290,826968,794
Kent688,893275,913412,980
Bristol11,7844,7847,000
Somerset244,32259,10363,204122,015
Cumberland612,496387,7638,529216,204
Forest of Dean235,32397,120104,01134,192

54.

asked the Minister of Fuel and Power what amount of the £237 million compensation paid to the previous owners of the coalmining industry is charged to the revenues of the industry; and what this amount represents in terms of each ton of coal produced.

The whole amount is being recovered from the National Coal Board by annuities extending over 50 years. The interest element, which at present is approximately 10d. per ton of coal, is charged by the Board against the revenues of the industry; the principal content of the annuity is more than covered by the sums charged to revenue for depreciation of the vested assets.