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Nationalised Industries (Financing Policy)

Volume 984: debated on Thursday 15 May 1980

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asked the Chancellor of the Exchequer what impact on the Government's economic policy he would envisage in removing limitations on the nationalised industries from embarking on major investment programmes financed by sources other than Her Majesty's Government.

[pursuant to his reply, 14 May 1980]: Any increase in the nationalised industries' borrowing would add to the public sector borrowing requirement and could lead to an increase in the money supply or higher interest rates. Within the constraints this imposes, the Government are considering, together with the nationalised industries chairmen possible modifications to the present arrangements for financing nationalised industries' investment.