HC Deb 23 May 1960 vol 624 cc12-3W
74. Mr. Nabarro

asked the Chancellor of the Exchequer whether he will state estimated Exchequer advances to nationalised industries under Section 42 of the Finance Act, 1956, as amended, for the year ending 31st August, 1961, and the amount of the estimated advance to each of the seven nationalised industries concerned for that year to 31st August, 1961.

Mr. Barber

I do not expect the total advances during the year ending 31st August, 1961, to differ materially from the total for the current financial year which is estimated to be£482 million. I have already given my hon. Friend the estimates of what each of the seven industries is likely to borrow from the Exchequer in the financial year, and this is the best available guide to an analysis of the estimated total of advances during the year ending 31st August, 1961. There may, however, be unpredictable variations in the rate of advances to the seven individual industries, and it is for this reason that it is not possible to forecast more precisely.