§ Mr. AllenTo ask the Chancellor of the Exchequer, further to his answer of 13 March,Official Report, column 160, to whom the European investment bank loan was made.
§ Mr. RyderThe European investment bank loan, referred to in my reply of 13 March, was made to Eurotunnel Finance SA and Eurotunnel Finance Ltd.
§ Mr. AllenTo ask the Chancellor of the Exchequer whether European investment bank loans which are not repaid can be written off against tax as bad debts.
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§ Mr. LilleyThe European investment bank is exempted from all direct United Kingdom taxes by virtue of articles 3 and 22 of the protocol on the privileges and immunities of the European Communities. The question of relief for bad debts does not therefore arise.