§ 40. Mr. Onslow
asked the Chancellor of the Exchequer what is the current total value of Eurodollar loans to nationalised 53W industries in the United Kingdom, and the local authority borrowers, which have been guaranteed by Her Majesty's Government at an exchange rate in excess of $2 to £1.
§ Mr. Robert Sheldon
I assume that the hon. Member is interested in the foreign currency borrowing of nationalised industries and local authorities for domestic purposes. The total of such borrowing under the exchange cover scheme prior to 5th March, when the sterling exchange rate fell below $2, is equivalent to some £4.2 billion at current exchange rates.