HC Deb 15 March 1983 vol 39 c97W
Mr. Beaumont-Dark

asked the Secretary of State for Industry whether he will make a statement on the external financing limit for British Telecom for 1983–84.

Mr. Patrick Jenkin

In the light of the latest estimates of BT's trading position BT's EFL for 1983–84 has been revised to minus £100 million. This revision takes account of a more realistic estimate for BT's expenditure in 1983–84 on fixed assets in the United Kingdom of £1,722 million, following a substantial shortfall in BT's expenditure on fixed assets in the United Kingdom for 1982–83 (now estimated at £1,590 million compared with an estimate in March 1982 of £1,934 million). The Government continue to attach high importance to the modernisation of BT's network and are encouraging the earliest possible achievement of it.