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Nationalised Industries

Volume 129: debated on Wednesday 9 March 1988

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75.

To ask the Chancellor of the Exchequer how much is the total amount spent on the nationalised industries since 1958 by way of purchase, subsidy, written-off loans and any other similar costs, and interest; and what has been the average rate of return on capital invested over that period.

Nationalised industries have not always been distinguished from other public corporations in available statistical sources. Over the period 1958 to 1987 inclusive, £71 billion in today's price was spent on purchase (£4 billion), grant subsidies (£44 billion) and written-off loans (£23 billion) for those public corporations which have at some point been defined as nationalised industries. The average real rate of return, after subsidies, on capital employed in all public corporations over the period 1958 to 1986 inclusive was approximately one half of 1 per cent. per annum.