§ Ms HarmanTo ask the Chancellor of the Exchequer what working assumptions he is now using in his medium term financial strategy for privatisation proceeds over the period 1994–95 to 1998–99.
§ Mr. DorrellThe medium-term financial strategy in the 1994–95 "Financial Settlement and Budget Report" assumed privatisation proceeds of £5.5 billion in 1994–95 and £1 billion a year after. The assumption for 1995–96 was raised to £2.5 billion in the summer economic forecast, to reflect the latest assessment of likely proceeds from later instalments from the sale of the Government's residual stakes in the generating companies and from the sale of its other residual equity and debt holdings.