§ Mr. Onslowasked the Secretary of State for Trade whether the Civil Aviation Authority is to be required to repay its initial borrowing of £27 million, on which interest is payable at 7 per cent. per annum, by April 1982; if so, how, and at what rates of interest this borrowing is to be renewed; and what estimate he has made of the effect of this on the charges that will thereafter be levied by the authority upon the United Kingdom aviation industry.
§ Mr. SproatThe CAA's initial debt of £27,073,000 on which interest is charged at 7¼ per cent. is due to be repaid by 31 March 1982.
470WThe authority intends to replace the initial debt with other borrowing. The effect on that part of its charges which the CAA is free to determine is likely to be very small.