Mr. Alan Williams
asked the Minister of Power how many of the steel plants which it is proposed to nationalise are currently making a loss; which plants are making a loss; and what is the estimated compensation value of each of these plants.
§ Dr. Bray
My right hon. Friend has no information about the current earnings of steel companies at present in the private sector. So far as the year 1965–66 is concerned, of such companies in Schedule I of the Iron and Steel Bill, only230W
the last year for which figures are available.
§ Mr. Joseph Slater
The information is as follows:—
Colvilles Ltd. have published results or interim results showing a loss after allowing for depreciation and interest. The compensation payable for the securities of this company is estimated at about £42½ million.