HC Deb 05 April 1976 vol 909 cc82-3W
Mr. Viggers

asked the Chancellor of the Exchequer if he will publish a schedule showing the borrowings by United Kingdom institutions including nationalised industries, local authorities and statutory bodies from foreign lenders, and borrowings denominated in foreign currency, where Her Majesty's Government have guaranteed the value of the pound sterling against devaluation.

Mr. Dell

Her Majesty's Government do not formally guarantee the value of the pound sterling against devaluation in respect of borrowings in foreign currency by public sector bodies. Payments of interest and repayments of principal on such loans are invariably made in the currency or currencies in which the original borrowings were made. Public sector borrowers may, however, if they wish, seek Treasury approval for exchange cover of foreign currency borrowings for domestic purposes.

For a schedule of these foreign currency borrowings, including those which were granted exchange cover, I would refer the hon. Member to the answer I gave on 19th March to the hon. Member for New Forest (Mr. McNair-Wilson)—[Vol. 907, c. 6645].