§ Mr. Beaumont-Darkasked the Chancellor of the Exchequer if he will make a statement on the proceeds from special sales of assets in 1981–82.
§ Mr. RidleyThe 1981–82 gross proceeds from sales of assets have now been computed and amount to £481 million, compared with the target of £500 million set in Cmnd. 8175, paragraph 1.29. This figure was made up as follows:
£ million (cash) Sale of leases of certain motorway service areas—sales of land and buildings 19 British Sugar Corporation shares 44 Cable and Wireless shares 182 New Town Development Corporations and the Commission for New Towns—Sales of land and buildings 73 Sale of Oil stockpiles 50 Sale of other stocks 19 Amersham International 64 Forestry Commission—sales of land, plantations and buildings 7 National Freight Company 5 National Enterprise Board—sale of certain shares 2 Crown Agents—sale of property 7 Property Services Agency—sale of property 1 Government's nil—paid rights in 1981 BP rights issue 8 Gross Total 481 This total does not allow for the effect of delivery by the British National Oil Corporation of £573 million worth of oil paid for in 1980–81. The effect of this was a £573 million offset to the total producing a net figure of minus £92 million.