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British Steel Corporation: Financial Requirements

Volume 414: debated on Thursday 13 November 1980

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asked Her Majesty's Government:Following their Answer of 6th October (H.L.

Official Report, 7th October, cols. 168–171) detailing financial support for nationalised industries, what further public money (in 1979 survey prices) has been made available to the British Steel Corporation by means of public dividend capital or in other forms not covered by the earlier Answer.

Since nation-alisation in 1967 the following amounts, in 1979 survey prices, have been provided to meet the British Steel Corporation's financial requirements over successive five year periods:

£ million
April 1965 to March 1970April 1970 to March 1975April 1975 to March 1980
PDC and capital subscribed under section 18(1)803,100

£ million

April 1965 to March 1970

April 1970 to March 1975

April 1975 to March 1990

Long term borrowing net of repayments66918903
Regional Development Grants179346349
Total finance supplied or guaranteed by Government2451,3444,352