HC Deb 18 July 1995 vol 263 c1045W
Mr. Malcolm Bruce

To ask the Chancellor of the Exchequer (1) if he will alter his present proposals relating to the taxation of gilts and bonds in order to(a) avoid the potential for double taxation of shareholders in investment trust companies and (b) exempt holders of zero dividend preference shares, who would otherwise be penalised by the change in the tax regime; [32952]

(2) if he will exempt existing holdings of gilts and bonds from the new proposals on the taxation of gilts and

Debt written off and debt injected prior to privatisation
Debt written off Debt Injected
Industry Year £ million Type of debt Year £ million
British Telecommunications 1984–85 2,789.9 National Loans Fund 1984–85 3,500
British Gas 1986–87 2,500
BAA 1986–87 43.5 National Loans Fund
British Steel 1988–89 500.0 Public Dividend Capital
British Steel 1988–89 3,480.0 Borrowing under Iron and Steel Act 1982 Assistance under Aircraft and Shipbuilding
Harland and Wolff 1989–90 422.5 Industries (Northern Ireland) Order 1979
Short Brothers 1989–90 390.0 Loan by DED
Water companies 1989–90 4,973.3 National Loans Fund 1989–90 72.9
Water companies 1989–90 55.0 Public Works Loan Board
Electricity (England and Wales) 1990–91 3,583
Electricity1 Scotland 1991–92 1,043.6 National Loans Fund 1991–92 625.9
NTL 1991–92 22
Norther Ireland Electricity 1993–94 70.3
Belfast Airport 1943–95 15.2
British Coal 1994–95 1,633.4 Voted Loans
Total 15,331.2 10,389.3

Notes:

1 Prior to privatisation, National Loans Fund debt due to the South of Scotland Electricity Board nuclear programme of £1,368.4 million was transferred to Scottish Nuclear Ltd. and subsequently written off.