Public Sector Borrowing (Foreign Currencies)

HC Deb 17 December 1973 vol 866 cc267-8W

Mr. Spearing

asked the Chancellor of the Exchequer what have been the total borrowings of local authorities in foreign currencies since June 1970; and what is the estimated amount in £ sterling which will be repayable in 1974, stating the amounts for the main currencies concerned.

Mr. Nott

Total foreign currency borrowings by local authorities for domestic use between June 1970 and end-November 1973 were 455 million United States dollars and 335 million Swiss francs. No repayments are due in 1974.

Mr. Spearing

asked the Chancellor of the Exchequer what are the total borrowings of publicly-owned industries in foreign currencies since June 1970, and the estimated amount in £ sterling which will be repayable in 1974, stating the amounts for the main currencies concerned.

Mr. Nott

Total foreign currency borrowings by nationalised industries for domestic use between June 1970 and the end of November 1973 were 1,690 million US dollars, 850 million Swiss francs and 277 million deutschemarks. No repayments are due in 1974.