§ 26. Mr. Ronald Bell
asked the Chancellor of the Exchequer if he will set out in the OFFICIAL REPORT the overseas borrowings of nationalised industries and of local and other public authorities during the last 12 months, the rates of interest payable, and the repayment terms, stating whether in each case he has consented only to the loan or also to the terms on which the loan was arranged.
§ Mr. Nott
Rates of interest varied widely in accordance with the life of the loan and the terms of the prospectus or loan agreement. If my hon. and learned Friend requires details of any particular agreement, I shall endeavour to assist him, but I can assure him that all relevant factors, including the loan terms, are taken into consideration in each case 563W before consent is given, and consent has been withheld in some cases.
Following is the information:
FOREIGN CURRENCY BORROWED UNDER THE
EXCHANGE COVER SCHEME TO 30TH SEPTEMBER
Million dollars Birmingham 50 Bristol 15 Coventry 25 Glasgow 75 Greater London Council 35 Lancashire 30 Liverpool 40 Corporation of London 35 Manchester 50 Nottingham 25 Teesside 25 British Gas Corporation 20 Electricity Council 1,000 South of Scotland Electricity Board 20 North of Scotland Hydro-Electric Board 25 Post Office 300
Other foreign currency borrowing for domestic use from 1st October 1972 to 30th September 1973.
Million Electricity Council SFr. 325 South of Scotland Electricity Board DM.100