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Nationalised Industries

Volume 78: debated on Wednesday 1 May 1985

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asked the Chancellor of the Exchequer if he will publish the rates of return in each nationalised industry for the years 1982, 1983 and 1984.

It is not possible to provide information for each nationalised industry on a comparable basis and no rates of return are yet available for 1984. Available information for earlier years is as follows:

Rates of Return on Capital Employed—National Accounts Basis
IndustryRates of Return
19821983
Including Subsidy per centExcluding Subsidy per centIncluding Subsidy per centExcluding Subsidy per cent
Air Support Services (BAA; CAA)5·04·97·47·2
Air Transport (BA)–3·0–3·06·96·;9
Other Inland Transport (NBC; STG; LRT)–0·4–16·4–0·2–18·7
Posts and Telecom (PO; BT)5·55·53·83·8
Rail (British Railways Board)–2·8–9·6–1·5–8·5
Shipbuilding (British Shipbuilders)–3·3–5·0–11·6–13·0
Steel (BSC)–10·7–10·7–9·2–9·2
Figures for 1982 have been revised, following publication of the 1983 edition of "National Income and Expenditure ' and may, therefore, differ from those given in answer to my hon. Friend's question on 9 April 1984 at column 81underlying the rates of return for industries in the standard industrial classification division 1 (the energy and water supply industries), in particular asset lives assumptions, are at present under review by the CSO. 1983 rates of return, and revised rates for earlier years, are consequently not yet available for these industries.The basis for the calculation of the figures, which relate to all the public corporations in particular standard industrial classifications, was set out in the Treasury evidence to the Treasury and Civil Service Select Committee in 1981 (published as appendix 12 of volume III of its report "Financing of the Nationalised Industries" HC 348-III). The rates of return given are based on national accounts statistics and, therefore, differ from figures based on nationalised industries published accounts.