asked the Secretary of State for Energy what assessment he has made of the report of the Consumers' Association, commissioned from Phillips and Drew, on accounting practices of the nationalised industries; and whether he proposes to take any action in response to it.

asked the Minister of Transport what assessment he has made of the report of the Consumers' Association, commissioned from Phillips and Drew, on accounting practices of the nationalised industries; and whether he proposes to take any action in response to it.

asked the Chancellor of the Exchequer what assessment he has made of the report of the Consumers' Association, commissioned from Phillips and Drew, on accounting practices of the nationalised industries; and whether he proposes to take any action in responce to it.

[pursuant to the reply given on 20 March 1980]: I have been asked to reply.The Consumers' Association report was particularly concerned about the diversity of treatment among the industries of the impact of inflation in arriving at figures for profit and loss. A significant improvement in the consistency of report-ling profit in current cost terms should follow the promulgation of the new accounting standard expected shortly. In this context, we have been concerned to secure a uniform approach by the nationalised industries, and I would refer the hon. Member to the answer by my right hon. Friend the Chief Secretary to the Treasury to my hon. Friend the Member for Chipping Barnet (Mr. Chapman) on 21 December 1979.—[Vol. 976, c. 454).