§ Mr. Shoreasked the Chancellor of the Exchequer how much foreign exchange has been borrowed by the nationalised industries, local authorities and other public bodies in Great Britain 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. Nott,pursuant to his reply [OFFICIAL REPORT, 15th January 1974], gave the following information:
The amounts of foreign currency borrowed for domestic use by nationalised industries, local authorities and other public bodies in Great Britain in each year since 1970 have been as follows:
over of these taxes to the Revenue departments. If businesses have temporary liquidity difficulties they should look to their banks for accommodation in the normal way. The Government feel sure that the banks will, wherever possible, deal sympathetically with their business customers. Arrangements have been made for keeping the situation under constant reveiew.