HC Deb 18 December 1986 vol 107 c609W
Mr. Hickmet

asked the Secretary of State for Trade and Industry whether he is in a position to announce a revised external financing limit for the British Steel Corporation.

Mr. Giles Shaw

BSC's external financing limit was reduced from £146 million to £51 million in July. BSC's performance in the first half of the year has been good, despite the uncertainty affecting some markets, including those elsewhere in Europe. I am glad to say that the corporation's latest forecasts for the rest of the current financial year indicate that a further reduction of £25 million in the EFL, from £51 million to £26 million, is practicable, and this change has now been made.

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