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Meriden Co-Operative

Volume 976: debated on Thursday 17 January 1980

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asked the Secretary of State for Industry what progress has been made to date in the recovery of interest payments due to Her Majesty's Government from the Meriden Co-operative since 30 June; and if he will make a statement.

The answers to my hon. Friend's two questions are "None" and "No".

TABLE 1
9 months to 31 March 1978 £28·9 million1978–79£12£8 million9 months to 31 December 1979 £23·5 million
Average number employed by BS85,70083,70079,000
Average sum per employee£338£153£297
However, by far the majority of these payments relate to British Shipbuilders' merchant shipbuilding activities. The corresponding table for merchant shipbuilding only is as follows:
TABLE 2
Payments (estimated)9 months to 31 March 1978 £28·1 million1978–79 £12·5 million9 months to 31 December 1979 £23·3 million
Average number of employees (estimated) in merchant ship- building37,00032,00027,000
Average sum per employee£759£391£863
In addition to the payments in table 1, British Shipbuilders has also received public dividend capital totalling £166 million in support of all its activities.