asked the Secretary of State for Energy what has been the expenditure to date of the British National Oil Corporation; how the expenditure has been funded; and what proposals are in hand for borrowing at home and abroad.

I would ask the hon. Member to await the publication of the British National Oil Corporation's annual report and accounts which will show total expenditure to 31st December and how this has been funded. So far, all the corporation's borrowings have been from the Secretary of State but the corporation would consider proposals from other appropriate sources provided that the terms were attractive and otherwise acceptable to Government.