Post Office (External Financing Limit) (Hansard, 26 June 1997)

HC Deb 26 June 1997 vol 296 c613W 613W

§ Mr. Ronnie Campbell
To ask the President of the Board of Trade what is the external financing limit for the Post Office for 1997–98. [6056]

§ Mrs. Beckett
The negative external financing limit (EFL) for the Post Office for 1997–98 has been reduced from —£330 million to —£313 million. This reflects the fact that the Post Office over-achieved its EFL for 1996–97 by £17 million, and in accordance with the existing arrangements an over-achievement of up to £30 million of one year's EFL can be matched by a corresponding reduction in the following year's figure.