§ 65. Sir H. Butcherasked the Chancellor of the Exchequer whether he will now sanction the issue of loan stock supported by Treasury guarantee to enable the nationalised industries to repay the advances they have received from the joint stock banks.
§ Sir E. BoyleThe financing of this capital expenditure by bank overdraft is a temporary measure; the Treasury will approve the issue of stock by the authorities concerned at the appropriate time.
§ 66. Sir H. Butcherasked the Chancellor of the Exchequer what requests he has addressed to the nationalised industries with a view to assuring that they should assist the national economy by refraining from borrowing at the present time.
§ Sir E. BoyleBorrowing by these bodies is necessary to finance commitments maturing under approved schemes of capital expenditure.