§ Mr. Youngerasked the Chancellor of the Exchequer what is the total debt outstanding owed to overseas lenders by local authorities in Scotland and England and Wales, respectively, nationalised industries and other public boards; and what was the net charge to public funds in 1969.
§ Mr. TaverneDerbyshire County Council has foreign currency debt of about £5 million outstanding; no other local authority has borrowed in this way. Nationalised industries' outstanding overseas borrowing totalled about £116 million at the last dates for which figures are available. Only part of the nationalised industries' loans fell due for servicing in 1969; these charges are borne by the industries concerned.
§ Mr. Youngerasked the Chancellor of the Exchequer what is the number of local authorities in Scotland and England and Wales, nationalised industries and 43W public boards, respectively, who are seeking his approval for powers to raise money abroad; and what are the total sums covered by these applications.
§ Mr. TaverneOverseas borrowing powers for public sector bodies are provided by Parliament by means of Private or General Acts. No separate limits are specified for borrowing abroad. Public bodies with the requisite powers need Treasury consent before borrowing abroad. My right hon. Friend has no requests currently for consent before him.