§ Q53. Mr. Rentonasked the Prime Minister when Her Majesty's Government expect to be in a position to present
Direct Grants* NLF Loans† 1978–79 1980–81 1978–79 1980–81 National Coal Board 172,000,000 243,000,000 222,643,876 572,510,544 British Steel Corporation‡ — — -161,570,190 -49,570,190 British Railways Board 542,000,000 669,000,000 15,927,857 83,785,428 British Airways — — -14,442,911 -5,942,854 British Shipbuilders 11,000,000 39,000,000 55,000,000 — British Leyland║ — — — — Rolls-Royce║ — — — — British Waterways Board 20,000,000 26,000,000 -500,000 4,100,000 Central Electricity Generating Board — — — — Electricity Council 5,300,000 4,900,000 -6,640,000 296,290,800 National Bus Company 48,000,000 66,000,000 5,000,000 13,000,000 * Published in Public Expenditure White Papers 1978–79 (Cmnd. 7841) and 1980–81 (Cmnd. 8494). Direct grants have been taken to mean those included in an industry's external financing limit. † Published in Consolidated Fund and National Loans Fund Accounts 1978–79 HC Paper 307 and 1980–81 HC Paper 94. "Total access given to the National Loans Fund" has been interpreted as gross loan issues less repayments of principal to each of the bodies from the National Loans Fund in the financial years 1978–79 and 1980–81. ‡ Government lending to the British Steel Corporation has been in the form of issues under section 18 of the Iron and Steel Act 1975 (£850 million in 1978–79 and £1,233 million in 1980–81) from voted expenditure. Hence the figure given under NLF loans is a net repayment. ║ Although Government finance has been paid to British Leyland and Rolls-Royce, none has been in the form of direct grant. Payments to both have been in the form of equity, and additionally, in the case of Rolls-Royce, launch aid which is to be repaid out of future engine sales. Figures are: BL Equity, 1978–79, £450,000,000; 1980–81, £300,000,000. RR Equity 1980–81, £94,000,000. RR Launch Aid 1978–79, £40,846,000; 1980–81, £67,580,000.