§ Mr. Martenasked the Chancellor of the Exchequer if he will list the loans received from the European Community between 1st January 1973 and 1st November 1974 to help industrial modernisation and development in Great Britain, and the loans negotiated but not received, showing the terms of the loans and giving the reasons why the loans not received have not been taken up.
EUROPEAN INVESTMENT BANK LOANS, 1ST JANUARY 1973 TO 1ST NOVEMBER 1974 Borrower Amount £ million Terms Project Industrial and Commercial Finance Corporation. 3.5 The loan was made available in two tranches For on-lending to small and medium-size firms in the development areas. (i) £2.5 million for 14 years at 7¾ per cent. (ii) £1 million for 9 years at 7⅜ per cent. British Steel Corporation 14.7 17½ years at 8½ per cent. The expansion of burden-preparation facilities at Teesside. British Steel Corporation 14.7 18 years at 8½ per cent. Llanwern steelworks, South Wales. North of Scotland Hydro-Electric Board. 10.4 20 years at 9½ per cent. Peterhead power station. Elf Oil (U.K.) 10.4 10 years at 9⅞ per cent. Exploitation of Frigg North Sea gas deposits. Total Oil (U.K.) Aquitaine Oil (U.K.) Kent and Essex C.C. 7.0 10 years at 10½ per cent. Second Dartford tunnel. 128W
EUROPEAN COAL AND STEEL COMMUNITY LOANS 1ST JANUARY 1973 TO 1ST NOVEMBER 1974 Borrower Amount £ million Terms Project Received at 1st November 1974 £ million National Coal Board 18.0 $10 million for 5 years at 8¼ per cent. Mining equipment pool—provision of powered roof supports. 4.2 $15 million for 10 years at 9¼ per cent. 6.3 National Coal Board 14.0 Interest rate 9¼ per cent. Term under negotiation. Modernisation of Bethwys, Trentham, Easington, Littleton and Royston collieries. 4.1 National Coal Board 3.5 15 years at 8¼ per cent. Development of Blackhill and Hordern collieries. 2.4 National Coal Board 1.7 25 years at 1 per cent. Modernisation of miners' houses. —(*) British Steel Corporation 18.0 8 years: Scunthorpe coke oven expansion scheme. 7.75 (†) £1.5 million at 6¼ per cent. £7.5 million at 9¼ per cent. British Steel Corporation 7.8 8 years at 9¼ per cent. Scunthorpe rod mill expansion scheme. —(‡) British Steel Corporation 1.25 8 years at 6¼ per cent. Templeborough anti-pollution project. 1.25 British Steel Corporation 14.8 10 years: Ravenscraig expansion scheme. 9.9 (§) £3 million at 6¼ per cent. Remainder at 9¼ per cent. (*) £0.986 million drawn on 15th November 1974. (†) A further £10.2 million will be paid on 16th January 1975: the interest rate on this tranche will be 10 per cent. (‡) The full amount, £7.8 million, will be paid on 16th January 1975. (§) Final payment will be made on 16th January 1975.
§ Mr. DellLoans agreed with the European Communities in the period from 1st January 1973 to 1st November 1974 are listed, together with their terms, in the following table. The full amount of all European Investment Bank loans has been received by the recipients. The full amount of loans by the European Coal and Steel Community has not been received in all cases as the money is offered to the recipient in tranches when it becomes available.