§ Dr. Michael Clark
asked the Secretary of State for Energy if he will make a statement about his Department's expenditure in connection with the intended sale of shares in British Gas.
§ Mr. Buchanan-Smith
[pursuant to the reply, 24 April 1986, c. 222]: Following the announcement today of the 609W Government's intention to vest the property, rights and liabilities of the British Gas Corporation in British Gas plc on 24 August, we shall be subscribing for equity in the company to enable it to obtain a certificate to commence business and to assume from the corporation the benefits, obligations and responsibilities for work done directly related to the flotation of the company. In accordance with my answer of 24 April, this will be financed by a repayable advance from the contingency fund, pending parliamentary approval of the Estimates.