HC Deb 15 February 1973 vol 850 c428W
Mr. Robert Edwards

asked the Chancellor of the Exchequer why he approved, under the Exchange Control Regulations, the borrowing of £23 million in Swiss francs by the Electricity Council.

Mr. Nott

Under current exchange control practice the borrowing of foreign currency for use in the United Kingdom is normally permitted if the borrowing is made for a period of five years or more. The borrowing in Swiss francs by the Electricity Council was approved on this basis.

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