§ Mr. DobsonTo ask the Chancellor of the Exchequer if the Government guarantees loans received by the private sector from the European investment bank.
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§ Mr. Nelson[holding answer 16 December 1993]: The Government do not operate a guarantee scheme for private sector borrowers from the EIB. However, the Government do have a residual responsibility in respect of guarantees which it provided under a former scheme, which was discontinued in 1985. The residual contingent liability resulting from this scheme is now diminishing, and will ultimately disappear, as the loans guaranteed are progressively repaid.