§ Mr. Cryer
asked the Chancellor of the Exchequer if the British Gas Corporation has deposited £300 million to the national loans fund; if so, whether this is treated as a form of tax revenue arising out of gas charges; and if he will make a statement on the report of the Comptroller and Auditor General relating to issues from the national loans fund which suggests a further build-up of reserves by the British Gas Corporation.
§ Mr. Brittan
Under section 12 of the National Loans Act 1968 the British Gas Corporation deposited £200 million with the national loans fund during 1979–80. Since then the corporation has deposited a further £100 million.
Deposits with the national loans fund are classed as loans and not as a form of tax revenue.
The Comptroller and Auditor General's report contained in"Accounts Relating to Issues from the National Loans Fund 1979–80" is addressed to the House of Commons and I have no comment to offer on it.