§ Mr. K. Lewisasked the Minister of Aviation whether he has any proposals for meeting the future borrowing requirements of the airline Corporations, in view of the information in the White Paper on Government Expenditure 117W Below the Line, Command Paper No. 1680, that by the end of 1962–63 the total amounts outstanding will be near the limits prescribed in the Air Corporations Act, 1960.
§ Mr. ThorneycroftYes. Requirements are bound to increase, making necessary an increase in the limits, if the Corporations are to finance the replacement and expansion of their fleets. Moreover, in view of adverse trading results in 1961–62 and the uncertain prospects, it will be necessary as early as possible to seek specific Parliamentary authority for Exchequer advances made to meet the Corporation's losses on current account. I accordingly propose, as soon as the Parliamentary timetable permits, to ask the House to approve amending legislation on both points.