§ Mr. Richard Shepherd
asked the Secretary of State for Trade and Industry if the Government have imposed any restrictions on the level of Mercury's revenues; and if he will make a statement.
§ Mr. Butcher
The licence granted to Mercury Communications Ltd. in February 1982 imposes a temporary ceiling on Mercury's revenues but this is having no practical effect. It has long been recognised that Mercury would need a new licence as soon as the Telecommunications Bill becomes law. The new licence, which will be similar to the licence to be granted to British Telecom, will impose no restrictions on Mercury's revenues and Mercury will be free to compete to obtain the largest possible share of the market.