§ Mr. Frank Fieldasked the Secretary of State for Trade and Industry how much money has been spent on the advertising budget of his Department on advertising the prospectus of British Telecom.
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§ Mr. ButcherAbout £3 million is being spent on advertising the full British Telecom prospectus and the abridged mini prospectus during the offer period in the press, and on radio and television.
§ Mr. Beithasked the Secretary of State for Trade and Industry why the prospectus issued on his behalf by Kleinwort Benson and Co. in respect of the British Telecom plc share offer made reference to the policies of the Labour party and omitted any reference to those parties whose policies do not include the renationalisation of British Telecom.
§ Mr. TrippierIt is necessary to make reference to the Labour party's declared policy of renationalisation since if it were carried out it would have a material impact upon the interests of investors. Nothing comparable arises from the declared policies of the other parties.
§ Mr. Gouldasked the Secretary of State for Trade and Industry what total sums will be paid by way of commission to City institutions arising from the flotation of British Telecom shares.
§ Mr. ButcherI shall reply to the hon. Member as soon as possible.