§ 33. Sir W. Wakefieldasked the Paymaster-General how much of the new capital required by the Central Electricity Authority, since the industry was nationalised, has been provided by the authority itself; and how much has been provided out of public funds.
§ Sir I. HorobinFrom the date of nationalisation in April, 1948, to March, 1957, the Authority provided about two-fifths of its new capital requirements from its own resources. The balance was provided from stock issues, guaranteed by the Treasury, Exchequer advances and temporary borrowings.
Following are the details:
1st April, 1948, to 31st March, 1957 r £m. £m Inteenal Resources 602 Extrnal Resources— Exchequer Advances 148 Stock Issues 816 Temporary Borrowings 39 Transfer to South of Scotland Electricity Board 6 1,009 Less Debt Redemption, etc. 161 848 1,450