Concorde

Mr. Terry Walker
asked the Secretary of State for Industry what is his latest estimate of the cost of development of Concorde.

Mr. Benn
The latest estimate of the manufacturers' total development costs in Britain and France shows a fall of a little under £40 million in real terms compared with the £1,070 million which I gave in my statement of 18th March 1974. This results from a re-examination of the programme. The new estimate of £1,096--------------------------------------------------------------------------------------------------------------------------------------
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|Actual costs from 29th November 1962 to 31st December 1974 at the prices and exchange rates prevailing when the costs were incurred.|
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|Estimated costs from 1st January 1975 to completion of programme at January 1975 prices and at an exchange rate of £1 = 10.25 FF.   |
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|Totals                                                                                                                              |
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