§ 86. Mr. Clwydasked the Secretary of State for Trade and Industry if he will make a statement about the total cost of the British Telecom flotation.
§ Mr. ButcherIn the answer I gave to the hon. Member for Dagenham (Mr. Gould) on 27 November 1984, at columns 435–36, I said that the costs that could be estimated at that time were about £128 million. I can now add to that the value of free and matching shares supplied to British Telecom employees, which was £51.5 million, and the cost of receiving bank and initial registration work which is estimated at about £10 million.