HC Deb 18 March 1976 vol 907 cc623-4W
Mr. Tebbit

asked the Secretary of State for Industry if he will list the annual profit or loss in curent money terms of each of the nationalised industries for which he is responsible for each of the last five years.

1. Mr. Kaufman

The following is the information:

British Steel Corporation Post Office
Year Profit Loss Profit Loss
1970–71 10.4 20.5
1971–72 68.0 36.1
1972–73 2.8 64.1
1973–74 50.2 128.1
1974–75 72.6 306.7


Sources: Reports and Accounts of the British Steel Corporation and the Post Office. All figures relate to profits/losses after taxation.

2. The figures are expressed in current money terms at the time of publication of the relevant Reports and Accounts.

3. Compensation for price restraint is excluded from the figures in the table. Compensation of £9.7 million was paid to the Post Office in respect of 1972–73; £123–6 million in respect of 1973–74, and £307.0 million in respect of 1974–75.

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