National Investment and Loans Office

HC Deb 25 November 1981 vol 13 c376W

Mr. Whitney

asked the Chancellor of the Exchequer whether any change is to be made to the cash limit for Class XIII, Vote 9.

Mr. Brittan

Subject to parliamentary approval of the necessary Supplementary Estimate, the cash limit is to be increased by £298,000 from £1,000 to £299,000. The cost of the National Investment and Loans Office is generally more than covered by fees and charges levied. The Vote is normally a token of £1,000, with a surplus of about £150,000 a year, surrendered as Consolidated Fund extra receipts.

The increase in the Vote this year is necessary because of an anticipated shortfall in receipts from fees, mainly because of an unexpectedly low level of local authority borrowing from the PWLB in the first part of the year. It will be charged to the Contingency Reserve, and will not therefore add to total public expenditure.