HC Deb 12 December 1986 vol 107 c244W
Mr. Tony Banks

asked the Secretary of State for Energy how many letters have been received by his Department opposing the sale of British Gas.

Mr. Buchanan-Smith

One hundred and seventy five individuals and organisations have written to my Department, either directly or through their Member of Parliament, opposing the sale. This compares with the 5 million people who have applied for shares in British Gas.

Mr. Tony Banks

asked the Secretary of State for Energy what was the total cost of the pre-flotation publicity for British Gas shares.

Mr. Peter Walker

I refer the hon. Member to the answer given today to my hon. Friend the Member for Lewisham, West (Mr. Maples).

Mr. Maples

asked the Secretary of State for Energy what were the proceeds and costs of the British Gas sale.

Mr. Peter Walker

The total proceeds to the Government from the sale of British Gas plc are some £7,750 million. The cost to the Government in 1986–87 of the sale is provisionally estimated as follows.

£ million
United Kingdom sale—
advisers fees 3
marketing: pre-flotation 29
flotation 12
receiving bank/registration 20
underwriting and selling commissions 75
Overseas sales 25

This represents around 2 per cent. of the total proceeds.

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