HC Deb 18 December 1975 vol 902 cc710-1W
Mr. Pardoe

asked me Chancellor of the Exchequer what are the average rates of interest currently being paid for marketable Government guaranteed dollar coupon securities and for comparable securities issued by European institutions; and if he will make a statement about the reasons for the difference.

Mr. Dell

The yield on Government guaranteed dollar bonds issued by United Kingdom nationalised industries is currently around 10½ per cent. Yields on the most comparable securities issued by the European Investment Bank and the European Coal and Steel Community, which enjoy the highest market ratings by virtue of their EEC status currently range between 10¼ per cent. and 9½ per cent. Direct comparisons between the yields of different securities can, however, be misleading because of technical factors, such as the size of the issue and the sinking fund arrangements.