HC Deb 14 January 1975 vol 884 cc309-10
Mr. Millan

I beg to move Amendment No. 54, in page 12, line 13, at end insert— '(2) The aggregate of—

  1. (a) expenditure of the Secretary of State under section 10 of this Act, plus
  2. (b) loans by the Secretary of State under section 11 of this Act, plus
  3. (c) liabilities of the Secretary of State under any guarantees given by him under the said section 11 (exclusive of any liability in respect of interest on a principal sum so guaranteed),
less any sums received by the Secretary of State—
  1. (i) in respect of the recovery of expenditure incurred by him under the said section 10, and
  2. (ii) by way of repayment of loans under the said section 11, and
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  3. (iii) by way of repayment of principal sums paid to met guarantees under the said section 11,
shall not at any time exceed £40 million.'. In a Bill of this sort, involving public expenditure, it is normal to include a financial limit. The figure of £40 million appeared in the Financial Memorandum but it was not written into the Bill. The purpose of the amendment is to write into the Bill a financial limitation which we believe will be adequate.

Amendment agreed to.

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