§ 24. Sir G. Nabarroasked the Chancellor of the Exchequer how much foreign borrowing by nationalised industries to 1st November 1969, or to the latest convenient date, he has authorised ; and how this sum is accounted for in quarterly and monthly figures published for balance of payments purposes.
§ Mr. DiamondB.O.A.C. has borrowed about £23 million in U.S. dollars, mainly to finance aircraft purchases in the United States. The net effect of this borrowing is included in trade credit under the item "miscellaneous capital" in the monetary movements of the balance of payments. Other nationalised industries have borrowed about £66 million, mainly in Deutsche marks. This is shown as inward private investment in the overseas capital accounts.