OVER £6 MILLIONS PROFIT ON BRITISH COAL IN SIX MONTHS

Grey River Argus, 12 November 1949, Page 5

OVER £6 MILLIONS PROFIT ON BRITISH COAL IN SIX MONTHS

(Rec 10.0) LONDON, Nov 11. The Fuel Minister, Mr Gaitskell. during a Commons debate last night on the National Coal Board’s 1948 report, disclosed that the board made a profit of £6,500,000 sterling in the first six months of 1949. These figures compare with a loss of £23,255,586 sterling in 1947, the first nationalisation year and a surplus of £l,651.965 in 1948. Mr Gaitskell defended the policy of dual prices for coal wtih the domestic prices lower than export prices.

Mr Ri. A. Hudson, for the Opposition, asserted that the nationalisation of the mines was affecting international relations. Britain was being accused of sharp Cor instance of raising export prices. A Government motion noting th* board's report, was agreed to, aftei an Opposition amendment had been defeated.