§ 28. Mr. Biffenasked the Postmaster-General if he will commission a study to determine the practicability of financing the proposed telecommunications programme from the private capital market.
§ Mr. Edward ShortNo, Sir.
§ Mr. BiffenIs not the right hon. Gentleman aware that there are a very large number of people who believe that the telecommunication activities of the Post Office are pre-eminently suitable for free enterprise? Would he not, therefore, commission the study I have suggested as a very useful preliminary move in developing such a debate?
§ Mr. ShortThis is a point that ought to be looked at; I quite agree with the hon. Gentleman. He may have seen an article by Sir Ronald Edwards in the current Lloyds Bank Review. Various replies are possible to this article, but I think that it is a matter which can be looked at in the context of the financing of the nationalised industries.
§ Mr. BryanDo we take it from that reply that there is to be a serious investigation into this possibility?
§ Mr. ShortNo. All I am saying is that this is the kind of question which should be looked at in the context of the long-term financing of the nationalised industries.