§ Mr. Eldon Griffithsasked the Chancellor of the Exchequer if he will list the overseas loans of nationalised industries and local authorities, giving such details as are available of the currencies in which those borrowing were made, the initial amounts borrowed, the outstanding sums still available to he drawn, the rates of interest and schedule of repayments in each case.
§ Mr. Denzil DaviesI assume that the hon. Member refers to overseas loans raised by nationalised industries and local authorities for domestic purposes. Lists of outstanding loans to, amongst others, nationalised industries and local authorities until the end of February 1976 were deposited in the Library of the House of 85W Commons on 14th October 1975 and 19th March 1976. Following are the further
Borrower Amount March 1976 … … … British Steel Corporation … … … US $92.39 million British Steel Corporation … … … D Fl. 30 million Post Office … … … US $18.955 million DM 29.9 million Yen 785 million Electricity Council … … … US $ 49 million National Water Council … … … US $ 10.3 million DM 13.2 million D Fl. 3.8 million Yen 125 million National Water Council … … … US $4.4 million DM 5.9 million Yen 55 million £0.3 million April 1976 … … … Electricity Council … … … D Fl. 98.7 million Post Office … … … DM 300 million British Steel Corporation … … … D Fl. 6.93 million British Steel Corporation … … … D Fl. 30 million Electricity Council … … … US $ 295 million No loans were raised by local authorities during March-April 1976.
Loans to nationalised industries and local authorities are normally drawn in the full amount by a single borrowing. No outstanding sums remain to be drawn on any of these loans.
All these loans are raised on the best possible terms, but any decision whether to publish details of a loan is for the parties to the individual loan agreements.