To ask the Secretary of State for Trade and Industry if he will list for each year since 1979 (a) the profits of British Technology Group and (b) the returns to the Exchequer from (i) profits, (ii) sales and (iii) levies.
[holding answer 25 January 1991]: The profits before tax and the returns to the Exchequer from the National Enterprise Board and the National Research Development Corporation are shown in the tables.
| National research development corporation | |||
| Profits before tax and amounts paid to Her Majesty's Government | |||
| £ millions | |||
| Profit before tax | Dividends | Tax paid | |
| 1979 | 12·92 | — | 3·55 |
| 1980 | 11·85 | 2·00 | 5·25 |
| 1981 | 8·42 | — | 1·71 |
| 1982 | 10·39 | — | 4·45 |
| 1983 | 2·33 | — | 3·98 |
| 1984 | 5·18 | — | 0·93 |
| 1985 | 7·82 | 2·00 | 2·16 |
| 1986 | 7·54 | 2·00 | 4·80 |
| 1987 | 3·40 | 2·89 | 0·89 |
| 1988 | 6·22 | 1·00 | 0·62 |
| 1989 | 7·53 | 7·92 | 1·70 |
| 1990 | 9·51 | 2·61 | 2·27 |
Note: The 1989 dividend figure includes a special payment of £6 million made under direction from the Secretary of State.
National Research Development Corporation
| ||||||
Value of shares and loans in private companies held at 31 March 1990
| ||||||
£ thousands
| ||||||
Cost on acquisition
| Current book value
| |||||
Company
| Shares
| Loans
| Total
| Shares
| Loans
| Total
|
| Agricultural Genetic Eng. Ltd. | 3,755 | 0 | 3,755 | 3,755 | 0 | 3,755 |
| Polysystems Ltd. | 0 | 656 | 656 | 0 | 0 | 0 |
| EFI Materials Ltd. | 285 | 0 | 285 | 0 | 0 | 0 |
| York Ltd. | 293 | 0 | 293 | 293 | 0 | 293 |
| Deductive Systems Ltd. | 124 | 0 | 124 | 0 | 0 | 0 |
| Ferranti Creditphone Ltd. | 1,341 | 0 | 1,341 | 1,341 | 0 | 1,341 |
| COTAG International Ltd. | 50 | 0 | 50 | 0 | 0 | 0 |
| XTEC Ltd. | 140 | 0 | 140 | 0 | 0 | 0 |
| Lynx Group Ltd. | 4 | 0 | 4 | 4 | 0 | 4 |
| International Business Software Ltd. | 201 | 194 | 395 | 201 | 194 | 395 |
| Laser Monitoring Systems Ltd. | 21 | 0 | 21 | 11 | 0 | 11 |
| Sindex Speech Technology Ltd. | 75 | 5 | 80 | 0 | 0 | 0 |
| Prosys Ltd. | 500 | 0 | 500 | 500 | 0 | 500 |
| World Press Centre (London) Ltd. | 125 | 0 | 125 | 125 | 0 | 125 |
| Time & Data Systems Ltd. | 40 | 0 | 40 | 40 | 0 | 40 |
| Defense Technology Enterprises Ltd. | 102 | 224 | 326 | 2 | 0 | 2 |
| PERCOM Ltd. | 100 | 0 | 100 | 100 | 0 | 100 |
| Tangram CAE Ltd. | 87 | 0 | 87 | 0 | 0 | 0 |
| Straflo Ltd. | 14 | 0 | 14 | 0 | 0 | 0 |
| Thermal Conversion UK Ltd. | 378 | 115 | 493 | 0 | 0 | 0 |
| Mupor Ltd. | 10 | 0 | 10 | 0 | 0 | 0 |
| Biomedical Sensors Ltd. | 0 | 225 | 225 | 0 | 125 | 125 |
| Torotrak Holdings Ltd. | 380 | 2,177 | 2,557 | 127 | 1,049 | 1,176 |
| University of Warwick | 0 | 50 | 50 | 0 | 50 | 50 |
| Hovercraft Development Ltd. | 153 | 0 | 153 | 153 | 0 | 153 |
| Future Group Ltd. | 600 | 0 | 600 | 0 | 0 | 0 |
National Enterprise Board
| ||||
Profits before Tax and Amounts Paid to HMG
| ||||
£ millions
| ||||
Profit before Tax
| Interest and Dividends to HMG
| Tax Paid
| Net (payments to) Receipts from HMG
| |
| 1979 | (9·76) | 30·00 | 0·83 | 253·21 |
| 1980 | 1·52 | 12·13 | 0·47 | 1(10·51) |
| 1981 | (59·09) | 2·85 | 2·54 | 1(1,263·58) |
| 1982 | 3·89 | 0·32 | 0·08 | 3·03 |
| 1983 | 0·23 | 0·17 | 0·43 | 32·83 |
| 1985 | 51·97 | 0·18 | 0·40 | (166·45) |
| 1986 | 5·18 | 0·00 | 5·76 | (30·00) |
| 1987 | 4·64 | 0·00 | 0·39 | (34·04) |
| 1988 | 5·68 | 26·50 | 2·82 | 0·00 |
| 1989 | 0·59 | 22·00 | 1·26 | 0·00 |
| 1990 | 1·23 | 0·00 | 0·06 | 0·00 |
1 Excludes £17·4 million written off under sec. 3(i) Industry Act 1981. | ||||
2 These items are dividends paid on the Board's PDC. | ||||
Notes:
1. The financial year end for the Board was changed from the 31 December to the 31 March in 1985. The figures for 1985 are therefore for a 15-month period. All other figures are for 12-month periods ending on 31 December until 1983 and on 31 March thereafter.
2. The last column Titled "Net (Payments to) receipts from HMG" are the net movements on Public Divident Capital (PDC) and Loans from the National Loans Fund (NLF). By 31 March 1987 the NEB had repaid all but £4,775—50 of its "PDC" and "NLF" funding.
To ask the Secretary of State for Trade and Industry if he will list all shares held by British Technology Group in private companies and (a) their original value when acquired and (b) their current value.
[holding answer 25 January 1991]: The value of shares held and loans made by the National Development Corporation in private companies at 31 March 1990 are shown in the table. The National Enterprise Board's one live investment is 100 per cent. of the shares of Oakwood Loan Finance Ltd. which cost 1·5 million and are currently held at that value.
Cost on acquisition
| Current book value
| |||||
Company
| Shares
| Loans
| Total
| Shares
| Loans
| Total
|
| FBM Carbon Ltd. | 55 | 0 | 55 | 0 | 0 | 0 |
| INOTEC Ltd. | 26 | 0 | 26 | 0 | 0 | 0 |
| 8,859 | 3,645 | 12,505 | 6,651 | 1,418 | 8,069 | |