§ Mr. Meacher asked the Secretary of State for Industry if he will list those State—owned assets for which his Department is responsible which have been already privatised with dates of the sale in each case; how much funding has been raised by their sale or is expected to be raised in future; what further plans he has for privatisation of publicly owned assets in future; and what sums he expects to raise in each case.
§ Mr. Wakeham: The net proceeds to the Government of the sale of 51 per cent. of the shares of BAe PLC in February 1981 were £43 million.
§ The net proceeds to the Government of the sale of just under 50 per cent. of the shares of Cable and Wireless PLC which is currently taking place are expected to be about £183 million.
§ In the two financial years ending March 1981 the NEB sold shareholdings in 12 companies for £120 million and proceeds from the sale of assets, including shareholdings, by the other corporations for which my right hon. Friend has responsibility totalled £83 million in the same period.
§ It is not practicable to give a forecast of the likely proceeds of any further proposals for privatisation.