Coal Industry (Borrowing Powers)

Part of the debate – in the House of Commons at 12:00 am on 18 July 1967.

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Photo of Mr Edwin Wainwright Mr Edwin Wainwright , Dearne Valley 12:00, 18 July 1967

No. The Parliamentary Secretary has denied making the statement, and that is good enough for me.

The coal industry is entitled to know more about its future. Whether it will be allowed to produce 120 million tons or 155 million tons does not mean a great deal.

It has been said that the industry could produce 180 million tons of coal, but the problem is to sell it. If the Government do not intend to help the industry to sell the coal, it is no good their making wild statements. Production of 155 million tons can be achieved, but our worry is whether we will be able to sell it if oil is to be allowed to run rampant and we get natural gas from the North Sea to the extent we have been told. I therefore hope that financial help will be given to the industry.

It has also been said that the electricity generating industry must take more coal. I hope that that will be done, but if taking more coal adds to that industry's costs, it will not be fair. Members of the Opposition are continually seeking opportunities to criticise nationalisation. To use one nationalised industry to help another in this way would not leave us with an industry that was as viable as it could and ought to be. We would then provide more grounds for criticism.

If these four industries were run by private enterprise, each would help the other out, but if we say that each must be separate and apart that is where the Government must come in and make up the difference. My hon. Friends may not agree with me on this, but I believe that it is the Government's duty to help the industry so that, through reorganisation, it becomes more viable and competitive with other forms of fuel.

I differ from some of my hon. Friends on the subject of nuclear power. I very firmly believe that in the next two decades nuclear power will be the cheapest way of producing electricity—