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Nationalised Industries (Borrowing)

Volume 13: debated on Thursday 19 November 1981

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41.

asked the Chancellor of the Exchequer what steps he is taking to enable nationalised industries such as British Telecom to borrow long-term moneys for capital investment projects outside the public sector borrowing requirement.

All borrowing by public sector bodies such as nationalised industries falls within the public sector borrowing requirement. On the British Telecom bond proposal currently under consideration, I have nothing to add to the statement by my right hon. and learned Friend the Chancellor of the Exchequer during the debate on the Address—[Vol. 12, c. 560].