§ Mr. MorganTo ask the Secretary of State for Scotland what is his current estimate of the Exchequer proceeds from the sale of the Scottish electricity companies, excluding their nuclear assets, net of flotation and advertising costs.
§ Mr. Lang[holding answer 10 November 1989]: The market value of the Scottish electricity companies will depend on a wide range of factors, including the profitability of the companies, their capital structures, their future prospects and the state of the market. It is, therefore, too early to estimate the likely proceeds for the sale of the companies.
§ Mr. MorganTo ask the Secretary of State for Scotland what is his most up-to-date estimate of the level of tax losses to be carried forward in the balance sheets of the Scottish electricity companies under the terms of the Electricity Act 1989.
§ Mr. Lang[holding answer 10 November 1989]: The tax position of the Scottish electricity boards is a matter for the boards and the Inland Revenue and is currently the subject of negotiations. The level of tax losses available to the future Scottish electricity companies will be determined in accordance with schedule 11 to the Electricity Act.
§ Mr. MorganTo ask the Secretary of State for Scotland what is his most up-to-date estimate on the level of capital write-offs to be made to the balance sheets of the Scottish electricity boards and their successor companies, under the terms of the Electricity Act 1989.
§ Mr. Lang[holding answer 10 November 1989]: Asset values in the accounts of the Scottish electricity boards are a matter for the boards and their respective auditors. The structure of the balance sheets of the successor companies to the Scottish electricity boards has not yet been decided.