Post Office (Borrowing) [Money]

– in the House of Commons at 12:00 am on 10th November 1972.

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Queen's Recommendation having been signified

Resolved,That, for the purposes of any Act of the present Session to increase the statutory limits on the indebtedness of the Post Office and partially to release it from its liability to repay capital debt, it is expedient to authorise—

  1. (1) any increase in the sums falling to be paid out of or into the National Loans Fund or the Consolidated Fund in consequence of any provision of the said Act of the present Session increasing the limit on the indebtedness of the Post Office in section 36(2) of the Post Office Act 1969 to £4,800 million;
  2. (2) the release of the Post Office from its liability to repay an amount not exceeding £200 million in respect of the principal of debts assumed by it under section 33(1) of the Past Office Act 1969 or incurred by it before 1st April 1973 under section 35(2) of that Act.—[Sir J. Eden.]