asked the Chancellor of the Exchequer what sums will be required from parliamentary Votes for the purposes of Clause 1 of the Statutory Corporations (Financial Provisions) Bill in respect of 1975 and 1976; and by how much they will exceed the £70 million identified for this purpose in his Budget speech of 15th April 1975.
The total sum required in respect of 1974–75 deficits will, as shown in the Estimates for 1975–76 when the payments will be made, be of the order of £650 million. The total in respect of 1975–76 will depend on, among other things, changes in the industries' costs, prices and revenues during the year. It is impossible at this stage to say by how much it may vary from the current price equivalent—about £100 million—of the figure of about £70 million at 1974 survey prices in the Budget Statement.