APPENDIX XIII.
Vote for Industry and Commerce.
Secretary,
Committee of Public Accounts.
At the proceedings of the Committee on 7th December, 1951, I undertook to furnish further particulars regarding the following matters:—
LOSSES INCURRED BY FUEL IMPORTERS (EIRE) LIMITED.
The accounts of Fuel Importers (Eire) Ltd., are furnished in respect of the calendar year and figures showing the losses of the Company over financial years are not readily available. The following statement shows the losses incurred in each of the calendar years 1943 to 1950, including the loss carried over from the year 1942, and the subsidy payments made over those years.
The payments of subsidy made in each of the financial years 1943/44 to 1948/49 are also shown. The estimated loss at 31st December, 1951, is also shown in the statement.
Fuel Importers (Eire) Ltd.
Year ending 31st December |
Losses including Interest. |
Amount of Interest |
Subsidy paid by Department |
Balance of Loss Outstanding |
Subsidy Payments In Financial Years |
Financial Year |
Amount |
|
£ |
£ |
£ |
£ |
|
|
1942 |
... |
196,704 |
16 |
11 |
41,263 |
14 |
0 |
— |
196,704 |
16 |
11 |
— |
— |
1943 |
... |
698,099 |
8 |
10 |
46,360 |
17 |
0 |
599,982 |
1 |
10 |
294,822 |
3 |
11 |
— |
— |
1944 |
... |
1,043,567 |
16 |
10 |
48,651 |
2 |
0 |
780,017 |
18 |
2 |
558,372 |
2 |
7 |
43/44 |
830,000 |
1945 |
... |
1,120,453 |
12 |
1 |
37,900 |
18 |
0 |
1,230,000 |
0 |
0 |
448,825 |
14 |
8 |
44/45 |
1,180,000 |
1946 |
... |
1,371,797 |
5 |
8 |
23,507 |
17 |
0 |
1,233,000 |
0 |
0 |
587,623 |
0 |
4 |
45/46 |
1,433,000 |
1947 |
... |
868,026 |
4 |
2 |
49,129 |
0 |
0 |
1,258,000 |
0 |
0 |
197,649 |
4 |
6 |
46/47 |
1,258,000 |
1948 |
... |
966,275 |
15 |
9 |
157,299 |
0 |
0 |
1,175,000 |
0 |
0 |
*11,074 |
19 |
9 |
47/48 |
1,075,000 |
1949 |
... |
2,372,349 |
1 |
11 |
137,002 |
0 |
0 |
500,000 |
0 |
0 |
1,861,274 |
2 |
2 |
48/49 |
1,000,000 |
1950 |
... |
696,049 |
3 |
4 |
124,955 |
0 |
0 |
— |
2,557,323 |
5 |
6 |
49/50 |
— |
Estimated |
|
|
|
|
|
|
1951 |
... |
522,000 |
0 |
0 |
110,000 |
0 |
0 |
— |
3,079,323 |
5 |
6 |
50/51 |
— |
Total |
... |
9,855,323 |
5 |
6 |
776,069 |
8 |
0 |
6,776,000 |
0 |
0 |
|
|
6,776,000 |
*This is a credit figure and represents an overpayment of subsidy which was later adjusted. The sum of £1,500,005 was provided in the Vote for the year 1947/48. Due to a decline in sales by Fuel Importers payments of subsidy in that year amounted to only £1,075,000.
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