§ 26. Mr. Emeryasked the Minister of Power how much of the total borrowing powers authorised by the 1968 Act have been so far taken up by the Gas Council; and what further sum he estimates will be required by the end of 1969.
§ Mr. MasonThe estimates published last March in the White Paper on Loans from the National Loans Fund show that by, 31st March next, the end of its current financial year, the Gas Council expected to have borrowed £1,357 million. Revised estimates for 1968–69 and estimates for 1969–70 will be published in a White Paper next month.
§ Mr. EmeryDoes the right hon. Gentleman realise that his predecessor gave an undertaking during the passage of the Act that he would be open to be questioned so that the House could keep a rolling review of the amount? As it appears that there is considerable under-expenditure of the capital amount, would it not be reasonable for the House to reduce the total borrowing power allowed to the gas industry?
§ Mr. MasonI would not have thought that would be wise, since the House gave 1114 the Gas Council a limit of £1,600 million, which covers the requirements to spring 1970. As for questioning—the hon. Gentleman seems to be doing pretty well.