§ Mr. David Steelasked the Secretary of State for Energy what rate of interest is paid by the Central Electricity Generating Board and the South of Scotland Electricity Board on money borrowed from the Government for the building of nuclear power stations.
§ Mr. EadieThe Electricity Council borrows through my Department from the National Loans Fund on behalf of the electricity supply industry in England and Wales at interest rates related to the market rate on Government borrowing of similar maturities. I understand my right hon. Friend the Secretary of State for Scotland makes advances to the South of Scotland Electricity Board from the National Loans Fund on the same basis. The current rate of interest on 25-year instalment loans from the National Loans Fund is 14 per cent. per annum.