§ Mr. Keyasked the Secretary of State for Energy if he will define the financial framework within which electricity boards operate.
§ Mr. GoodladThe financial framework within which the electricity supply industry operates has been defined on a number of occasions. In particular, I refer the hon. Member to the memorandum submitted by the Department of Energy and the Treasury to the Energy Committee in January 1984 (House of Commons Report 276, volume 2, pages 2 and 3).
Since then, my right hon. Friend has agreed with the industry and announced a new financial target and performance aim over the next three years, as stated in Official Report, 19 December, at column 164. The external financing limit for the industry in the coming year (-£1,128 million), consistent with the financial target and performance aim, was announced by my right hon. Friend the Chancellor of the Exchequer in his Autumn Statement of 12 November 1984.