§ Mr. BaldryTo ask the Secretary of State for Trade and Industry what was the total cost of the flotation of British Steel.
§ Mr. Douglas HoggThe total cost to the Government of the sale of British Steel is estimated to be as follows.
£ million Underwriting 21.3 Selling and broking commission 1.7 Receiving banks 4.3 Marketing 11.6 Advisers' fees 5.6 Other costs (excluding stamp duty) 0.2 Overseas costs 2.8 47.5 This represents less than 2 per cent. of the gross proceeds of the sale.