§ Mr. SalmondTo ask the Secretary of State for Energy (1) if he will give details of the cost incurred in debt write-off prior to the privatisation of the electricity generation and distribution companies in England; and what percentage of the total debt this is;
(2) if he will give details of the cost incurred in debt write-off for the electricity generating and distribution companies prior to privatisation; and what percentage of the total debt this is.
§ Mr. Heathcoat-AmoryNo debt write-off occurred in connection with the privatisation of the electricity industry in England and Wales. On flotation, moreover, the companies bore new debt to Government totalling £3.583 billion overall, which will accrue to the taxpayer in addition to the proceeds from the sales.