HC Deb 18 July 1961 vol 644 cc118-9W
69. Viscount Hinchingbrooke

asked the Chancellor of the Exchequer whether he will give a breakdown of the sum of £682 million advanced to the nationalised industries from 1st April, 1960, to 31st August, 1961, together with the per contra items where these advances are net figures, and the same for the advances of £450 million estimated to be the maximum required for the ensuing 12 months.

73. Mr. Mitchison

asked the Chancellor of the Exchequer if he will give a breakdown of the aggregate sum referred to in the Exchequer Advances (Limit) Order, 1961, showing what limit is proposed in the case of each nationalised industry or undertaking.

Mr. Selwyn Lloyd

The Exchequer Advances (Limit) Order does not provide for a limit on the advances to individual industries. Moreover, figures of advances for July and August, 1961, are not yet available. I am, however, circulating in the OFFICIAL REPORT particulars of advances to the industries concerned for the period April, 1960, to June, 1961, and of their estimated drawings of £480 million in the period September, 1961, to August, 1962. The Order provides for an increase in the Exchequer lending limit which is less than £480 million because advances by the end of August, 1961, are expected to be less than the existing limit of £2,050 million.

Exchequer advances to the Nationalised Industries under Section 42 of the Finance Act, 1956
£ million
Nationalised Industry Out-turn Estimated Advances
April, 1960—June, 1961 September, 1961—August, 1962
Electricity Council 224 215
North of Scotland Hydro-Electric Board 11 16
South of Scotland Electricity Board 25 23
Gas Council 24 20
British Transport Commission 172 139
British Overseas Airways Corporation 43 40
British European Airways Corporation 25 27
Total 524 480