§ Mrs. Bainasked the Secretary of State for Foreign and Commonwealth Affairs what proportion of the £60.9 million which has come to Scotland from EEC sources since 1973 is represented by loans; and what is the gross benefit represented by interest charges on these loans as opposed to alternative lending rates.
§ Mr. MillanI have been asked to reply.
£42.3 million or 69.5 per cent. of the total of £60.9 million is in the form of loans from the European Investment Bank. The rates of interest offered by this bank are regarded as relatively favourable, but, since the rates and conditions which would have been offered by alternative sources of borrowing are both variable and unknown, it is not possible to quantify the interest-rate benefit.