§ Mr. WorthingtonTo ask the Secretary of State for Scotland if he will provide a detailed breakdown of the income, not grant in aid, received by the Scottish Development Agency in each of the past five years.
§ Mr. LangThe information is set out in the table:
293W
Cash At 1988–89 prices 1981–82 76.2 110.4 1982–83 94.2 127.3 1983–84 83.6 108.0 1984–85 74.5 91.6 1985–86 92.6 108.1 1986–87 87.1 98.4 1987–88 91.4 98.0 1988–89 87.6 87.6 1989–90 95.8 189.5 1 Estimated.
§ Mr. WorthingtonTo ask the Secretary of State for Scotland what happens to the proceeds of the sale of equities by the Scottish Development Agency.
§ Mr. LangIt has been the practice for some years to allow the agency to use such income to finance new investments; in the current year there will be more income than is required to finance new investments and the surplus will be used to reduce the total amount of public dividend capital owing to the Exchequer. Public dividend capital has been drawn down by the agency over the years as the principal means of financing new investments.
§ Mr. WorthingtonTo ask the Secretary of State for Scotland what will happen to the proceeds of the Scottish Development Agency's property portfolio sale.
§ Mr. LangThe agency's budget has always been funded to a significant extent by business receipts, within which income from selling premises to tenants has been a substantial element. The receipts from the disposal exercise will likewise be taken into account in setting the level of the agency's budget and the proportion of the budget to be met from grant in aid.