§ Mr. Patrick McNair-Wilson
asked the Chancellor of the Exchequer what has been the cost of the operation of the exchange equalisation scheme so far as it affects nationalised industry borrowing overseas for the past 12 months; and if he will make a statement.
§ Mr. Robert Sheldon
It is only practicable to identify any sterling cost to the Exchange Equalisation Account from operation of the exchange cover scheme in respect of those individual loans which have been repaid. Four loans, all taken by the Gas Council, were repaid in 1976. The difference between their sterling values at the dates of drawdown and repayment was £35.8 million.