HC Deb 04 December 1972 vol 847 c908
30. Mr. Norman Lamont

asked the Secretary of State for Trade and Industry what alterations he is considering in the Government guarantees available for borrowings by the nationalised industries for which he is the sponsoring Minister.

Mr. Emery

None, Sir.

Mr. Lamont

I accept that for large capital projects requiring Government approval a Government guarantee of borrowing may be logical, but with short-term and bank borrowing, why should not the public sector be exposed to the same commercial disciplines as other would-be borrowers?

Mr. Emery

The point is that the ability of nationalised industries to obtain finance does not depend on a formal Treasury guarantee. Therefore, a change would make practically no difference in the position.