§ Mr. Nigel GriffithsTo ask the Chancellor of the Exchequer what is his most recent estimate of the likely overall cost of the forthcoming British Telecom share offer including consultancy, financial and legal advice, PR, marketing and advertising, underwriting, receiving banks' costs, selling commission and fees and overseas costs of share shops.
§ Mr. DorrellThe costs of the BT3 share offer will be reported to Parliament after the sale has been completed. Sales proceeds will be appropriated in aid of the expenses of the sale.
420W
§ Mr. Nigel Griffiths:To ask the Chancellor of the Exchequer if the sum provided for the preliminary expenses of the 1993–94 British Telecom share offer in class XVII, vote 17 of the March 1993 Supply estimates has yet been spent; and when he intends to bring further supplementary estimates before the House.
§ Mr. DorrellOnly part of the provision for preliminary expenses of the 1993–94 BT share offer in class XVII, vote 17 of the March 1993 Supply estimates has so far been spent. I will bring further estimates before the House for this expenditure as and when necessary. Proceeds of the sale will be appropriated in aid of the expenses of the sale.