HC Deb 12 July 1989 vol 156 cc510-1W
Dr. Cunningham

To ask the Secretary of State for the Environment (1) how much has been set aside by his Department for the water flotation marketing campaign; how much has been allocated for the institutional lunches and dinners; and how much has been allocated for the national and regional roadshows;

(2) what was the cost to his Department of the paper of 9 May on the offer structure for the sale of the water industry, prepared by J. Henry Schroder Wagg & Co. Limited.

Mr. Ridley

It is not our practice to publish details of individual contracts. The cost of the water flotation will be reported to Parliament in due course in the usual way.

Dr. Cunningham

To ask the Secretary of State for the Environment if he will list the specific prospectuses being prepared for potential foreign investors in the water industry.

Mr. Ridley

As announced in November 1988, the Government and the Water Authorities Association have appointed banking advisers to consider the feasibility and desirability of offering shares in the forthcoming privatisation in Japan, the United States of America, Canada and continental Europe. Firm decisions will not be made until later in the year on whether shares will be offered in any or all of the markets but preparations for such offers are being undertaken on a contingent basis.