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British Leyland

Volume 928: debated on Monday 21 March 1977

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asked the Secretary of State for Industry what guarantees of payment he has, can or will offer to major component suppliers to British Leyland, whose continuance of supplies, on credit, is vital to Leyland's survival, yet who are supplying components on terms related to the fact of Government ownership of Leyland, rather than to normal commercial credit arrangements, under which payment would have been demanded as a condition of the granting of further credit; and if he will ensure a commitment of credit guarantee until such time as Her Majesty's Government ceases to provide financial support for Leyland.

British Leyland trades on a normal commercial basis. It has not sought such guarantees fom the Government.