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Rolls-Royce (1971) Ltd

Volume 974: debated on Thursday 29 November 1979

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asked the Secretary of State for Industry whether it remains his intention that Rolls-Royce (1971) Ltd. will be required to secure a 10 per cent. rate of return on capital employed by 1981 and to maintain progress toward the achievement of that rate in the interval.

The present financial duty is placed on the National Enterprise Board. When the Department monitors Rolls-Royce directly it will make clear the financial requirement against which the company's performance will be judged. At present Rolls-Royce is still planning to achieve the 10 per cent. rate of return by 1981.