Part of the debate – in the House of Commons am 12:00 am ar 5 Rhagfyr 1973.
In Clause 14(5) of the Bill which we are now discussing, the British Board is given power to borrow, with the sanction of the Secretary of State, up to £100 million. The fact that that provision enables borrowing by the board to meet losses again raises the whole question of tunnel profitability. My hon. Friend the Under-Secretary of State knows well my concern to see a fixed ratio between the moneys raised under Government guarantee and the moneys raised as risk capital.