§ 42. Mr. Corfieldasked the President of the Board of Trade whether he will give details of the terms on which the British Overseas Airways Corporation have negotiated a loan of 30 million Swiss francs; and whether he will state the policy of Her Majesty's Government in regard to overseas borrowing by the nationalised corporations for which he is responsible.
§ Mr. William RodgersThe loan is a bridging loan made by three Swiss banks pending a bond issue by B.O.A.C. on the Swiss market.
The air corporations possess powers to borrow abroad and are encouraged to do so. The British Airports Authority do not at present have these powers.