§ Mr. Matthew TaylorTo ask the President of the Board of Trade what proportion of the total future financial liabilities that would arise in the United Kingdom, as reported by the OECD in 1996, would fall to BNFL to disburse. [1779]
§ Mr. BattleThe OECD indicative scheduled disbursement of provisions for liabilities in the UK shows cumulative expenses as £45 billion to the year 2100. BNFL's published accounts indicate total costs for liabilities at their sites as £17.3 billion (undiscounted). BNFL's own share of future liabilities at 31 March 1996 are £2.6 billion (undiscounted).
Details of, and information relating to, provisions for total future liabilities for which BNFL are liable, are contained in the company's annual report and accounts, copies of which are in the Libraries of the House.
416W
§ Mr. TaylorTo ask the President of the Board of Trade (1) over what time scale she plans that Magnox Electric will merge with BNFL; [1795]
(2) what financial arrangements have been requested by BNFL in connection with the merger with Magnox Electric. [1797]
§ Mr. BattleThe aim is that integration should take place in two key stages. The first stage, transfer of the Government's shares in Magnox Electric to BNFL, should take place in the autumn with the second stage, full integration of the combined businesses of the two companies expected to be completed about 12 months after that, subject to the companies meeting the requirements of the relevant regulators. Constructive discussions on the detailed arrangements for the merger, including the financial arrangements, are continuing between all parties, including BNFL, Magnox Electric and my Department.