§ Mr. Richard Shepherd
asked the Secretary of State for Energy how much the National Coal Board intends to spend on investment over the next five years and if these plans are affected by the Chancellor's Budget Statement.
§ Mr. John Moore
, pursuant to his reply [Official Report, 27 June 1979], gave the following further information:
The National Coal Board's cash limit for 1979–80, included in the Financial Statement and Budget Report published on Budget day, provides for capital expenditure of £579 million. The precise level of investment in the next few years will be considered by the Government in their reviews of the investment and financing of the nationalised industries and of coal strategy. However, as I stated in reply to the hon. Member for Penistone (Mr. McKay) on 21 June, it is clear that substantial further investment will be needed.