Here is a paragraph from an Australian site.
Carburettor Equipped Engines
Vehicles made before 1986 vehicles were predominantly equipped with carburettors and steel fuel tanks.
The use of ethanol blended petrol in engines impacts the air/fuel ratio because of the additional oxygen molecules within the ethanol's chemical structure.
Vehicles with carburettor fuel systems may experience hot fuel handling concerns. This is because the vapour pressure of fuel with ethanol will be greater (if the base fuel is not chemically adjusted) and probability of vapour lock or hot restartability problems will be increased.
As a solvent, ethanol attacks both the metallic and rubber based fuels lines, and other fuel system components.
Ethanol also has an affinity to water that can result in corrosion of fuel tanks and fuel lines. Rust resulting from this corrosion can ultimately block the fuel supply rendering the engine inoperable. Water in the fuel system can also result in the engine hesitating and running roughly.