Skip to main content

Gas And Electricity (Borrowing Powers) Money

Volume 529: debated on Friday 9 July 1954

The text on this page has been created from Hansard archive content, it may contain typographical errors.

Considered in Committee under Standing Order No. 84 (Money Committees)

[ Queen's recommendation signified.]

[Sir CHARLES MACANDREW in the Chair]

Resolved,

That, for the purposes of any Act of the present Session to increase the limits imposed by section thirty-nine of the Electricity Act, 1947, on the amount outstanding in respect of borrowings of the British Electricity Authority and Area Electricity Boards and by section forty-two of the Gas Act, 1948, on the amount outstanding in respect of borrowings of the Gas Council and Area Gas Boards, it is expedient to authorise such increased charges on the Consolidated Fund and payments into the Exchequer under the said Acts of 1947 and 1948 as may, by reason of the Treasury's power under those Acts to give guarantees in connection with the borrowings in question, result from increasing the said limits in the case of the said Act of 1947 from seven hundred million pounds to fourteen hundred million pounds, and in the case of the said Act of 1948 from two hundred and fifty million pounds to four hundred and fifty million pounds.—[Mr. Geoffrey Lloyd.]

Resolution to be reported upon Monday next.