§ Mr. David Mitchell
asked the Chancellor of the Exchequer what has been the cost paid to or owing from public funds to date in respect of subsidies, writings-off, actual or prospective, and other losses in respect of all the nationalised industries.
§ Mr. Joel Barnett
Following is the information. The amounts in the first column are payments by central Government to the industries except where otherwise indicated. Amounts included for the year ended 31st March 1977 are provisional.777W
(6) This amount was transferred to reserves under the Iron and Steel Act 1972: against this £166–5 million had been written-off by 2nd April 1977. (7) Including £13 million in respect of PO banking services recreated into the form of public dividend capital. (8) Including £30 million reconstituted as a reserve, which has since been capitalised as public dividend capital. (9) Including £705 million debt suspended under the Transport Act 1962 and finally written-off under the Transport Act 1968.