Clause 83 - Additional functions of UKAEA
Energy Bill [Lords]
4:45 pm
Mr Nigel Griffiths (Parliamentary Under-Secretary, Department of Trade and Industry; Edinburgh South, Labour)
If any impropriety or error of judgment led to a loss on the property portfolio, that would be treated differently from any change in the market of which they fell victim or indeed in tricky sites where property development might follow from clean-up and other costs. The economics might be more finely balanced there. I can tell the hon. Gentleman that if a profit is made, it will be returned to the public funds, the Exchequer. That is true of any profits from land management operations in general.
I hope that that reassures the hon. Gentleman. I do not think there would be any intention to write blank cheques for foolish and irresponsible property developments. I am glad that he accepts that, so far, the track record does not appear to have given rise to concern, but he is right to ask questions about the future. I hope that I have reassured him.
Question put and agreed to.
Clause 83 ordered to stand part of the Bill.
Further consideration adjourned.—[Charlotte Atkins.]
Adjourned accordingly at thirteen minutes to Five o'clock till Tuesday 8 June at five minutes to Nine o'clock.