§ Miss LestorTo ask the Chancellor of the Exchequer how much has been granted in tax relief to the United Kingdom banks against possible default on third-world debts in each of the last 10 years.
§ Sir George YoungProvisions by banks operating in the United Kingdom for doubtful sovereign debt—mostly of third-world countries but which may include relatively small amounts for other countries—are estimated to have reduced corporation tax receipts in the last eight years by the following amounts:
£ million 1986–87 70 1987–88 190 1988–89 530 1989–90 510 1990–91 780 1991–92 120 1992–93 120 1993–941 120 Estimates for earlier years are zero or small. 1 Provisional.