asked the Minister for Finance the cost to the Exchequer of preference share financing each year from 1978 to date.
Written Answers. - Preference Share Financing.
339.
The following are the latest figures available for the cost of "section 84" loans:
|
Year |
£m. |
|
1978 |
1.3 |
|
1979 |
1.7 |
|
1980 |
5.3 |
|
1981 |
12.7 |
|
1982 |
63.0¹ |
|
1983 |
50.0 (estimated) |
These figures include the cost of both preference share financing and section 84 loans as sufficient information is not available to allow separate estimates to be made in each case. It is thought, however, that only a minor portion of the cost is referable to preference share financing.
¹The increased figure for 1982 reflects the effect of the bringing forward of the due dates for payment of corporation tax which resulted in the companies responsible for preference share and section 84 financing being required to pay two years' tax in 1982.