§ Mr. Stokesasked the Secretary of State for Energy if he will make a statement about changes to the external financing limits of the nationalised industries for which he has responsibility.
§ Mr. LawsonThe external financing limit of the electricity supply industry, England and Wales, for 1982–83 is being changed from —£248 million to —£148 million largely to take account of the build up of coal stocks against a background of lower than expected demand for electricity. This adjustment will be charged to the Contingency Reserve for 1982–83 and will not therefore add to public expenditure.
The external financing limit of the electricity supply industry, England and Wales, for 1983–84 is being changed from —£312 million to —£402 million to reflect the arrangements for coal price and supply from 1 November 1982 to 31 October 1983 agreed between the National Coal Board and the Central Electricity Generating Board.
The National Coal Board's external financing limit for 1983–84 is being increased by a corresponding amount of £90 million arising from the coal price and supply agreement and by a further amount to take account of the measures which my hon. Friend the Member for Croydon, Central (Mr. Moore) announced to the House on 31 January 1983—[Vol. 36, c. 12]—about further support for the foundry industry. The National Coal Board's present limit of £1,111 million for 1983–84 will thus become £1,207 million.
524WA change in the British Gas Corporation's external financing limit for 1983–84 from —£8 million to —£31 million has been agreed as a result of the latest forecast of the corporation's trading position for that year.