Office of Communications Bill [Lords]
4:30 pm
Dr Kim Howells (Parliamentary Under-Secretary, Department for Culture, Media & Sport; Pontypridd, Labour)
I assume that the interest rates will be similar to those that apply when grants and loans are given on a normal day-to-day basis by any Government Department, but I will find out for the hon. Gentleman what rates are envisaged.
The House will be able to consider the provisions on funding in due course. In the meantime, I hope that my explanation of the principles governing the funding of Ofcom will persuade the hon. Member for Vale of York to withdraw her amendment.