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British Leyland

Volume 928: debated on Monday 14 March 1977

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asked the Secretary of State for Industry what progress the Government have made so far in implementing the four general initiatives with regard to British Leyland, proposed in paragraph 23 of the CPRS Report on the Future of the British Car Industry (1975).

I refer the hon. Member to the Government's White Paper "The British Motor Vehicle Industry "(Cmnd. 6377), which took account of the analysis and recommendations in the CPRS Report.

asked the Secretary of State for Industry what percentage of the £400 million contribution to investment in fixed capital referred to in paragraph 14.11 of the Ryder Report has been generated by British Leyland during the 15 months ended 31st December 1976.

British Leyland's total profits during the period referred to are not yet available. They will be published in the company's next annual report and accounts.

asked the Secretary of State for Industry what rate of interest British Leyland will pay on the £25 million long-term loan recently made available to the company by the NEB; and on what date this will be due for repayment.

Two separate loans of £25 million have been made by the NEB to British Leyland: one at 15⅜ per cent.; the other at 15½ per cent.; the former is repayable not later than 24th February 1997, the latter not later than 10th March 1997.