§ Mr. Ridleyasked the Chancellor of the Exchequer if he will set out the amounts which have been borrowed overseas by nationalised industries, and local and public authorities, under Treasury guarantee, in each of the last five years, together with the average rate of interest on each year's borrowing; and what has been the highest rate of interest paid on any one borrowing.
§ Mr. DellOnly nationalised industries have borrowed under Treasury guarantee. The total amounts borrowed by them for domestic use in each of the last five years have been:
million 1969 Deutschemarks 560 EUA 8 1970 Nil. 1971 Swiss francs 525 Deutschemarks 177 1972 Nil. 1973 Swiss francs 325 Deutschemarks 100 Belgian francs 475 United States dollars 2,032 The average interest rates on those loans which have been agreed at fixed rates of interest in those years were:
1969 7⅝ per cent. 1971 7⅞ per cent. 1973 8¼ per cent. It is not possible to give the highest rate paid without disclosing details of individual loan agreements.
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§ Mr. Ridleyasked the Chancellor of the Exchequer what is the current rate of interest payable on new borrowings overseas under Treasury guarantee.
§ Mr. DellLoans raised under Treasury guarantee in foreign currencies are at the best rates of interest available at the time the borrowing is made.
§ Mr. Ridleyasked the Chancellor of the Exchequer if he will set out details and amounts of the money borrowed from overseas at rates of 15, 16 and 18 per cent. referred to in the Budget debate on 1st April 1974.
§ Mr. DellMy right hon. Friend the Chancellor of the Duchy of Lancaster was referring to the domestic interest rates available to official and private overseas holders of sterling. The total amounts invested at each rate are not known.