asked the Minister for Finance the total amount of money on which the State guarantees the exchange rate risk at the rate prevailing on 31 December 1983, 31 December 1984, 31 December 1985, and for the most recent date for which these figures are available; if he will aggregate these figures into the following categories: (a) the private corporate sector; (b) the agricultural sector; and (c) others; and the total cost to the State of exchange rate guarantees by sector for each of the years 1983, 1984, 1985 and 1986 to date.
Written Answers. - Exchange Rate Risk Guarantees.
270.
The following is the information requested:
(A) Total amount of which the State guarantees the exchange risk:
|
Amount outstanding at exchange rates |
(a) Private Corporate Sector |
(b)Agriculture |
(c)Others |
Total |
|
£m. |
£m. |
£m. |
£m. |
|
|
— on 31 December 1983 |
250.106 |
236.900 |
21.509 |
508.515 |
|
— on 31 December 1984 |
239.793 |
232.230 |
21.283 |
493.306 |
|
— on 31 December 1985 |
213.314 |
172.940 |
— |
386.254 |
|
— on 30 September 1986 |
221.138 |
205.270 |
— |
426.408 |
|
(Most recent date) |
(B) Total cost to State of exchange rate guarantees: (excluding unrealised exchange losses)
|
(a) Private Corporate Sector |
(b)Agriculture |
(c)Others |
Total |
|
|
£m. |
£m. |
£m. |
£m. |
|
|
1983: |
||||
|
Exchequer expenditure |
4.555 |
4.230 |
— |
8.785 |
|
Exchequer receipts |
1.723 |
2.035 |
0.258 |
4.016 |
|
Net cost/(gain) |
2.832 |
2.195 |
(0.258) |
4.769 |
|
1984: |
||||
|
Exchequer expenditure |
6.366 |
5.477 |
— |
11.843 |
|
Exchequer receipts |
2.120 |
2.503 |
0.281 |
4.904 |
|
Net cost/(gain) |
4.246 |
2.974 |
(0.281) |
6.939 |
|
1985: |
||||
|
Exchequer expenditure |
9.915 |
15.195 |
1.456 |
26.566 |
|
Exchequer receipts |
1.131 |
2.460 |
0.133 |
3.724 |
|
Net cost/(gain) |
8.784 |
12.735 |
1.323 |
22.842 |
|
1986: (to 30 September) |
||||
|
Exchequer expenditure |
3.799 |
2.710 |
— |
6.509 |
|
Exchequer receipts |
0.660 |
1.834 |
— |
2.494 |
|
Net cost/(gain) |
3.139 |
0.876 |
— |
4.015 |
The receipts indicated in the above table are in respect of exchange risk premia paid by borrowers under the various exchange risk schemes.