§ 38. Mr. Millanasked the Secretary of State for Scotland at what rates of interest advances are presently being made to the North of Scotland Hydro-Electric Board and South of Scotland Electricity Board, respectively.
§ Mr. G. CampbellBoth Boards pay the appropriate rate for long-term Exchequer advances to nationalised industries. For the North Board, which borrows for 30 years, the current rate is 6 per cent.; for the South Board, which borrows for 25 years, it is 5⅝ per cent. Different rates for loans raised for 25 years and for 30 years were introduced only last month, and discussions about the North Board's position are now taking place.