§ Mr. Leeasked the Chancellor of the Exchequer what is the total amount of public money provided to date for the lifeboat operation organised by the Bank of England and the London clearing banks allowing for any offsets permitted by the Inland Revenue against company losses; and if he will make a statement.
§ Mr. Denzil DaviesA full account of the support operation has been given by the Governor of the Bank of England to a Select Committee of the House. A ceiling of £1,200 million was set for the Lifeboat operation, of which the Bank of England share was 10 per cent. It is not the practice to reveal individuals' or individual companies' tax affairs.