§ 57. Mr. Bellengerasked the Postmaster-General whether his attention has been called to the British Broadcasting Corporation accounts as at 31st December last, showing balance at bank as being £591,526, cash at bank less balance on secured loan account; whether he will state the actual size of the loan and what assets are pledged as security there for?
§ Major TryonI am informed by the British Broadcasting Corporation that the amount of the loan is £ 200,000 and that it is secured on the whole undertaking and assets of the Corporation. I understand that the loan is now nominal, as it is covered by a corresponding sum maintained in the current account of the Corporation, and no effective interest charge arises.
§ Mr. BellengerWhile thanking the right hon. and gallant Gentleman for that information, would it not be as well to include information of this nature in the public accounts, and is not the method of presenting these accounts by the B.B.C. somewhat unusual from the accountancy point of view, and would not be tolerated in private business?
§ Major TryonI understand that the method by which the B.B.C. present their accounts has been approved, but if the hon. Member has any suggestion to make, I will send it on to them.