§ Mr. Biggs-Davisonasked the Minister of Public Building and Works what representations he has received from the building industry regarding the creation of the Government Building Corporation and what replies he has sent.
Industry Type of loan Where raised Amount Inerest Date of repayment Gas* … … Public DM issue Germany (Federal Republic) DM 200 m. … 6¾ per cent. … 1975 to 1984 Gas* … … Private DM placement Germany (Federal Republic) DM 100 m. … 6¾ per cent. … 1975 to 1979 Steel† (United Steel Companies) Temporary Euro-dollar loan London … US dollars not exceeding the equivalent of £175,000 ⅜ per cent. above the Euro-dollar interest rate. The present rates for this loan are 7¾ per cent. The loan is for successive six-monthly periods and at the end of any of these United Steel Companies may choose to discontinue the loan. Final repayment must however, be made by December, 1973 $351,000 and $63,000 8⅜ per cent. * These loans are covered by a Government guarantee and the public issue is also covered by the arrangements, described in the Treasury notice dated 14th February, 1969, to relieve the industry of exchange uncertainties. The Gas Council also has an overdraft arrangement in order to facilitate day to day transactions in connection with these loans. † This loan is not subject to Government guarantee.