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Borrowing Powers

Volume 887: debated on Tuesday 25 February 1975

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asked the Secretary of State for Industry if he will list the individual limits of lending or borrowing powers obtained by his Department by means of legislation or affirmative order in the past 12 months.

The Post Office (Borrowing Powers) Order 1974 (S.I., 1974, No. 2050) increased the aggregate of the amounts in respect of any borrowing and debt to a sum not exceeding £4,800 million. The Financial Assistance to Industry (Increase of Limit) Order 1975, which raises the limit of assistance under Section 8 of the Industry Act (1972) from £150 million to £250 million, was approved by Parliament on 18th February. This assistance may be given in the form of grants, guarantees or purchase of equity as well as loans.