§ Mr. SalmondTo ask the Secretary of State for Scotland what is his latest estimate of the total cost of the privatisation of the electricity industry in Scotland; how much is expected to be spent on(a) pre-sale costs, including marketing and (b) direct sale costs, including stamp duty and underwriting fees in each financial year; and if he will make a statement.
316W
§ Mr. Allan StewartExpenditure on electricity privatisation in Scotland is published annually in the Appropriation Accounts. The annual outturn figures in respect of pre-sale costs are as follows:
£ 1987–88 616,000 1988–89 2,111,000 1989–90 3,811,000 For 1990–91 £9.5 million has been provided to cover both pre-sale and direct sale costs. Direct sale costs will be announced after the sale in the usual way.
The costs involved are small by comparison with the expected proceeds from the sale.