§ Mr. Franks
asked the Chancellor of the Exchequer if he will make a statement about revised external financing limits for the nationalised industries following the abolition of national insurance surcharge proposed in the Budget on 13 March.
§ Mr. Peter Rees
Revised external financing limits for nationalised industries in 1984–85 are set out in the following table. The adjustments offset the additions to internal resources which arise from the proposed abolition of National Insurance Surcharge. No industry will be worse off than previously and their plans should be unchanged.
£ million cash 1984–85* † EFL National Coal Board 1,094 Electricity (England and Wales) -746 North of Scotland Hydro-Electric Board -3 South of Scotland Electricity Board 261 British Gas Corporation -104 British National Oil Corporation‡ -4 British Steel Corporation 273 Post Office -60 National Girobank -1 British Airports Authority 10 British Railways Board 930 British Waterways Board 43 National Bus Company 65 Scottish Transport Group 16 British Shipbuilders, Merchant and Composite Division 137 British Shipbuilders Warshipbuilding Division 80 Civil Aviation Authority 19 Water (England and Wales) 284 * All EFLs have been rounded as appropriate. † No EFLs included for Enterprise Oil, British Telecom and British Airways because of impending privatisation. ‡ The figure for BNOC is not a formal limit. BNOC's trading results are likely to fluctuate given the uncertainties of oil trading.