§ 43. Sir H. Butcher
asked the Chancellor of the Exchequer whether he will now take steps to ensure that the nationalised industries make an issue of stock in order to repay their bank overdrafts and so enable the banks to discharge their responsibilities to private enterprise.
§ Mr. R. A. Butler
I said on 5th July that these stock issues will take place at the appropriate time, and the hon. Member will have noticed that an offer of 100 million of stock by the Gas Council is advertised today. The repayment of overdrafts by nationalised industries does not mean, however, that bank credit will be more freely available to other borrowers.