§ Sir W. Wakefield
asked the Chancellor of the Exchequer whether he will make a statement about the provision of capital for the British European Airways Corporation.
§ Mr. R. A. Butler
Yes. My right hon. Friend the Minister of Civil Aviation and I have approved proposals by the Corporation for an issue of stock to repay existing temporary loans, to purchase aircraft and buildings and to provide working capital. Accordingly the Corporation have today issued to the National Debt Commissioners, under Treasury Guarantee, £10 million of 4¼ per cent. British European Airways 181W Guaranteed Stock, 1972–1977, at 98 per cent. This is the second stock issue made by the Corporation; the first issue of £6 million was made in 1949.