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Scottish Development Agency

Volume 205: debated on Tuesday 3 March 1992

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To ask the Secretary of State for Scotland what are his plans regarding the debt formerly owed to the National Loans Fund by the Scottish Development Agency.

I have decided that Scottish Enterprise should continue to take responsibility for the National Loans Fund debt formerly owed by the Scottish Development Agency. In turn, Scottish Enterprise will benefit from interest and capital repayments arising from on-lending financed by National Loans Fund loans. The original intention had been to extinguish the National Loans Fund debt and to return direct to the Exchequer income arising from related loans to sub-borrowers. Scottish Enterprise has been consulted about and is content with the revised arrangements, which have the approval of the Treasury.