§ Mr. Tony Banksasked the Secretary of State for Energy how many letters have been received by his Department opposing the sale of British Gas.
§ Mr. Buchanan-SmithOne hundred and seventy five individuals and organisations have written to my Department, either directly or through their Member of Parliament, opposing the sale. This compares with the 5 million people who have applied for shares in British Gas.
§ Mr. Tony Banksasked the Secretary of State for Energy what was the total cost of the pre-flotation publicity for British Gas shares.
§ Mr. Peter WalkerI refer the hon. Member to the answer given today to my hon. Friend the Member for Lewisham, West (Mr. Maples).
§ Mr. Maplesasked the Secretary of State for Energy what were the proceeds and costs of the British Gas sale.
§ Mr. Peter WalkerThe total proceeds to the Government from the sale of British Gas plc are some £7,750 million. The cost to the Government in 1986–87 of the sale is provisionally estimated as follows.
£ million United Kingdom sale— advisers fees 3 marketing: pre-flotation 29 flotation 12 receiving bank/registration 20 underwriting and selling commissions 75 Overseas sales 25 This represents around 2 per cent. of the total proceeds.