HC Deb 07 February 1977 vol 925 c503W
Mr. Forman

asked the Secretary of State for Energy (1) how much public money has been allocated so far to (a) capital payments from the Government and the United Kingdom Atomic Energy Authority to British Nuclear Fuels Ltd and Radio Chemical Centre Ltd, respectively, and (b) guarantees given in relation to advance payments made by customers of British Nuclear Fuels Ltd;

(2) how much public money has been allocated so far to (a) guarantees for the repayment of loans made to British Nuclear Fuels Ltd and Radio Chemical Centre Ltd, respectively, and (b) guarantees for the repayment by British Nuclear Fuels Ltd of advance payments made by customers under agreements to provide services.

Mr. Benn

Capital payments to the two companies under Sections 11–13 of the Atomic Energy Authority Act 1971 are as follows:

British Nuclear Fuels Limited
Additional equity purchases by the UKAEA £15 million
National Loans Fund loan £10 million
The Radiochemical Centre Limited
Additional equity purchases by the UKAEA £5 million

The payments to BNFL have already been made. Of the £5 million provision for TRC, £1 million was paid in January 1977 and the balance is due to be made available in stages through to the end of 1977–78.

No guarantees have so far been given to either company, but the Government have indicated that if the Nuclear Industry (Finance) Bill now before Parliament is enacted they will guarantee a sterling credit of £100 million that has been raised by BNFL.

It is not necessary to allocate money in respect of any guarantee unless and until there is an expectation of having to make payments under it.

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