§ Mr. Hugh D. Brown
asked the Postmaster-General (1) what he estimates will be the wages bill, at current wage and salary levels, for minor engineering grades in the years 1968–69 and 1969–70;
(2) what are the latest forecasts of investment in telecommunications plant for the years 1968–69, 1969–70 and 1970–71 under the following heads, trunks and junctions, local lines, subscribers' circuits, exchange equipment, inland telegraph equipment, and miscellaneous and overseas services;
(3) what proportion of capital requirements he estimates will be financed 69W by borrowing and internally, respectively, in 1968–69, 1969–70 and 1970–71.
§ Mr. Stonehouse
For 1968–69 the latest forecasts are:
£ million Wages 127.5 Investment Trunks and Junctions 63.1 Local Lines 48.9 Subscribers Circuits (including Datel) 52.9 Exchange Equipment 98.1 Inland Telegraph Equipment 7.0 Miscellaneous 1.2 Overseas Services 17.1 Total Telecommunications Plant 288.3
Financing of capital requirements
55 per cent. by borrowing and 45 per cent. from internal resources.
The latest forecasts for 1969–70 will be included in Post Office Prospects 1969– 70, to be published shortly. Capital requirements and financing forecasts for 1970–71 are currently under review, and I am unable to give the information at present.