§ Mr. McLoughlin
asked the Secretary of State for Energy whether there has been any change in the external financing limit for 1987–88 of the electricity industry in England and Wales since that announced in the 1987 public expenditure White Paper, Cm. 56-II.
§ Mr. Parkinson
The external finance limit for the electricity supply industry (England and Wales) for 1987–88 was set in the public expenditure plans at — £1,305 million. The Government have agreed with the Industry a revised limit of — £1,203 million to take account of capital expenditure which the Central Electricity Generating Board expects to incur in 1987–88 in relation to Sizewell B, now that consent to construct has been granted. The increase of £102 million will be charged to the reserve and so will not add to the public expenditure planning totals. It reflects expenditure which the hoard will incur in 1987–88 rather than in later years as a result of the timing of consent. This rephasing will not add to the overall cost of the project.