§ 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.