§ 37. Mr. Bowen Wellsasked the Secretary of State for Industry what progress has been made towards providing British Telecommunications with access to private sector sources of finance.
§ Mr. Kenneth BakerWe are considering British Telecom's proposals for a profit-linked bond sympathetically and I would hope to make a statement about this in the not too distant future.
§ Mrs. Knightasked the Secretary of State for Industry if he will publish in the Official Report a breakdown of expenditure within the £1,500 million investment programme of British Telecom, so far as this involves public expenditure.
§ Mr. WakehamBritish Telecom's net additions to fixed assets in 1980–81, after taking account of assets written out during the year and certain other adjustments, was £1,554 million. The breakdown of gross additions to fixed assets, given in statement A4 in the British Telecom accounts, is as follows: (figures in millions):
298W
Number Land and buildings 134 Inland cables and transmission equipment 329 Inland telephones and related equipment 369 Inland exchange equipment 594
Number Inland telex and other miscellaneous equipment 93 International cables and equipment 31 Computers, furniture and office machines 15 Motor vehicles 9 Investment in communications satellites 11 Increase in materials awaiting installation 41 After allowing for distortions to cash flow from an industrial dispute affecting billing, British Telecom financed about 85 per cent. of its capital expenditure from internal resources during the year. Its borrowings from public sources are not allocated to specific sectors of expenditure.