§ 34. Sir W. Wakefield
asked the Paymaster-General how much of the new capital required by the Gas Council, since the industry was nationalised, has been provided by the Gas Council itself; and how much has been provided out of public funds.
§ Sir I. Horobin
From the date of nationalisation in April, 1949, to March, 1957, the Council provided nearly 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 May, 1949, to 31st March, 1957 £m £m. Internal Resources … 162 External Resources— Exchequer Advances … 24 Stock Issues … 291 Temporary Borrowings … 18 333 Less Debt Redemption, etc. … 66 267 429