HC Deb 22 May 1984 vol 60 c389W
Mr. Franks

asked the Chancellor of the Exchequer if he will make a statement about revised external financing limits for the nationalised industries following the abolition of national insurance surcharge proposed in the Budget on 13 March.

Mr. Peter Rees

Revised external financing limits for nationalised industries in 1984–85 are set out in the following table. The adjustments offset the additions to internal resources which arise from the proposed abolition of National Insurance Surcharge. No industry will be worse off than previously and their plans should be unchanged.

£ million cash
1984–85* † EFL
National Coal Board 1,094
Electricity (England and Wales) -746
North of Scotland Hydro-Electric Board -3
South of Scotland Electricity Board 261
British Gas Corporation -104
British National Oil Corporation‡ -4
British Steel Corporation 273
Post Office -60
National Girobank -1
British Airports Authority 10
British Railways Board 930
British Waterways Board 43
National Bus Company 65
Scottish Transport Group 16
British Shipbuilders, Merchant and Composite Division 137
British Shipbuilders Warshipbuilding Division 80
Civil Aviation Authority 19
Water (England and Wales) 284
* All EFLs have been rounded as appropriate.
No EFLs included for Enterprise Oil, British Telecom and British Airways because of impending privatisation.
The figure for BNOC is not a formal limit. BNOC's trading results are likely to fluctuate given the uncertainties of oil trading.