§ Mr. Delwyn Williamsasked the Secretary of State for Industry whether the proposed legislation to amend the National Enterprise Board's financial arrangements will include provision to increase the board's financial limit in respect of BL; and by what amount.
§ Sir Keith JosephClause 1(1) of the Industry Bill, which received its First Reading today, provides for an increase in the NEB's statutory financial limit to cover the external financing requirements of BL Ltd. Whatever decisions are taken on BL's corporate plan, an increase in the financial limit of the NEB in respect of BL will be necessary. However, until the Government have taken decisions on the corporate plan no firm estimate of this can be made. The increase for which the Bill provides is, therefore, a token one of £1 million. A firm figure for the new financial limit will be announced as soon as possible and an appropriate amendment will then be tabled. The House will then have a full opportunity to debate the matter.