HC Deb 15 July 1982 vol 27 c436W
Mr. Squire

asked the Secretary of State for Energy to what extent those State enterprises for which his Department is responsible may carry over a percentage of capital expenditure from one year to the next in the event of an under or overspend.

Mr. Gray

On 4 August 1980 my right hon. and learned Friend the Chancellor of the Exchequer announced arrangements under which nationalised industries may exceed the current year's external financing limit by up to 1 per cent. of forecast turnover and fixed investment expenditure on condition that an equal deduction is made from the following year's limit. The arrangement does not distinguish between capital and current expenditure; and it does not cover underspends.

Forward to