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Short Brothers And Harland Ltd

Volume 888: debated on Monday 17 March 1975

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asked the Secretary of State for Industry what is Her Majesty's Government's current financial involvement in Short Brothers and Harland Limited; how much financial assistance has been provided for production of the SD3–30 and how much financial assistance is being provided for guided weapons work.

The Government directly own 69½ per cent. of the issued share capital of £2·36 million of Short Brothers and Harland Ltd. Provision has been made for loans totalling £14 million of which £1·4 million remains to be drawn.No direct Government assistance has been provided for production of the SD3–30. The Government have, however, agreed to invest £4·25 million—October 1972 prices—towards the development of the project, and have acted as guarantor for a loan of £2·5 million towards these costs that the company has obtained from the European Investment Bank.The Ministry of Defence has placed contracts with the company for guided weapons work. It is not the practice, however, to reveal the kind of information requested.