Written question asked by Baroness Beckett (Labour), in the House of Commons. It was due for an answer on Wednesday, 16 October 1996. It was answered by Richard Page (Conservative) on Wednesday, 16 October 1996 on behalf of the Department of Trade and Industry.

Dept of Trade and Industry

Question: What has been the total sum raised for the Exchequer by the sale of British Energy to date; and what further monies are forecasted. - Includes figures.

Answer: Mrs. Beckett: To ask the President of the Board of Trade what has been the total sum raised for the Exchequer by the sale of British Energy to date; and what further moneys are forecasted. [40721] Mr. Page: Proceeds from the British Energy Share Offer to date have been £630 million from the first instalment paid for the shares sold and £60 million of debt repayment. A further £100 million of debt is expected to be repayed later in this financial year. In the financial year 1997-98, it is anticipated that the proceeds from payment of the second instalment on the shares sold will be £590 million. British Energy will continue to have a debt to the Government, in the form of bonds to the value of £440 million, and the Government hold shares in British Energy which have a value of about £183 million at the issue price. In addition, liabilities of £3.7 billion have been transferred to the private sector.

Secondary information