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Electricity Industry

Volume 404: debated on Tuesday 6 May 2003

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To ask the Secretary of State for Trade and Industry what estimate she has made of the tax charge that would have been incurred in relation to the British Energy rescue and loan facilities, and the monies drawn from these facilities, the payment of which would be obviated by clause 4 of the Electricity (Miscellaneous Provisions) Bill. [109525]

The tax disregard provisions of Clause 4 only apply to grants made under Schedule 12 to the Electricity Act 1989. The credit facility agreement referred to is not provided under Schedule 12 and so will not benefit from the tax disregard.