§ Captain Kerbyasked the Chancellor of the Exchequer what is the total of the loans made to the nationalised industries and other public bodies from the National Loans Fund during the last convenient accounting period of 12 months; and what proportions of this amount have been used by the recipients for financing losses, meeting current expenditure of a non-capital kind and for capital expenditure, respectively.
§ Mr. TaverneGross issues from the National Loans Fund to nationalised industries and other public bodies (excluding local authorities and the Northern Ireland Exchequer) for the year ending 31st March, 1968 amounted to £2,052 million. (Finance Accounts of the United Kingdom 1967–68, House of202W Commons Paper No. 268, 12th June, 1968 pps. 26–29.) Of this total about 89.6 per cent. was provided for meeting capital expenditure and about 1.9 per cent. for meeting current expenditure and shortfalls on current account. The balance is represented by £175 million borrowed by the British Steel Corporation, which was partly used to refinance maturing debt.