asked the Chancellor of the Exchequer what assumption was made of the loss for the Post Office in 1975–76 in arriving at the figure of £70 million subsidies for the nationalised industries in 1975–76.

The total estimate in the Budget Statement for 1975–76 of about £70 million at 1974 survey prices is equivalent to about £100 million at current prices, of which the Post Office's estimated deficit accounted for £70 million.