§ Mr. Ralph Howell
asked the Chancellor of the Exchequer how much money was paid out in aid to nationalised industries, including the writing-off of debts, in 1978, 1979 and 1980 respectively.
§ Mr. Brittan
[pursuant to his reply, 27 February 1981, c. 446.]: Following is the information in respect of the external financing requirements of the nationalised industries met from Government funds.
£ million 1978–79 1979–80 Grants 881 1,087 Issues of public dividend capital* 864 1,184 Net borrowing from the National Loans Fund –171 673 * Including issues under section 18 of the Iron and Steel Act 1975.
Estimates of outturn in 1980–81 will be published in the 1981–82 Financial Statement and Budget Report.
Capital debt and revenue deficits written-off in the period amounted to:
- £53.1 million in 1978–79;
- Nil in 1979–80;
- £260 million to 27 February 1981 in 1980–81.