§ Mr. Bodyasked the Chancellor of the Exchequer how much foreign exchange has been borrowed by the nationalised industries, local authorities and other public bodies in the United Kingdom with the approval of the Treasury in each year since 1970 and what will be the estimated cost of servicing these loans in 1974.
§ Mr. DellThe foreign currencies borrowed for domestic use by nationalised industries, local authorities and other public bodies in the United Kingdom each year since 1970 have been:
1970 1971 1971 1973 Nil Sw Fcs 629 million DM 177 million Nil Sw Fcs 556 million DM 100 million Belgian Fcs 475 million US $ 2,517 million It is not possible to estimate precisely the amount to be paid in interest this year on these loans since a large part of the money was borrowed on floating rate terms. At present interest rates, the total cost of servicing these loans in 1974 would be about US$ 280 million.