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Mr. Lawson
To ask the Chancellor of the Exchequer if he will publish a table showing the average real rate of return on capital invested in British industry over the following periods: (a) 1964–1973, (b) 1973–1979 and (c) 1979–1989.
Mr. Norman Lamont
The average net real rates of return on capital employed by United Kingdom industrial and commercial companies are estimated as follows:
Per cent. | |
(a) 1964–73 | 9·9 |
(b) 1973–79 | 6·5 |
(c) 1979–89 | 8·9 |
Debt written oft prior to privatization | ||
Privatisation | Amount £ | Type of debt |
British Aerospace | 60,000,000 | Public Dividend Capital |
National Freight Corporation1 | 100,000,000 | National Loans Fund |
British Transport Docks Board2 | 81,293,616 | National Loans Fund |
British Telecommunications | 2,789,865,772 | National Loans Fund |
British Airways | 160,000,000 | Fund Public Dividend Capital |
BAA | 43,503,340 | National Loans Fund |
British Steel | 500,000,000 | Public Dividend Capital |
British Steel | 3,480,000,000 | Borrowing under Iron and Steel Act 1982 |
Water Holding Companies | 4,973,332,672 | National Loans Fund |
Water Holding Companies | 55,013,916 | Public Works Loan Board |
Scottish Electricity Companies3 | 1,043,573,600 | National Loans Fund |
1 Privatised as National Freight Consortium (now NFC). | ||
2 Privatised as Associated British Ports. | ||
3 Prior to privatisation, National Loans Fund debt due to the South of Scotland Electricity Board nuclear programme of £1,368,390,398 was transferred to Scottish Nuclear Ltd. and subsequently written off. |