§ 30. Mr. Michael Heseltineasked the Minister of Transport how the £35 million now offered to British Electric Traction by Transport Holding Company for their bus interests is to be raised; and what will be the eventual cost to public funds.
§ Mr. Swingler:The Transport Holding Company Bill provides for an extension of the company's borrowing powers which will enable them to finance this acquisition. Subject to the passage of this legislation, my right hon. Friend would propose to make the required loan at normal Government lending rates, which cover all costs to the Exchequer.