§ 35. Mr. Silkinasked the Minister of Aircraft Production what is the amount of the short-period rent which is being charged to the Standard Motor Company for the shadow factory at Banner Lane, Coventry.
§ The Minister of Aircraft Production (Sir Stafford Cripps)In accordance with the terms as to the disposal of factories announced by the Government in October last, the rent for this factory has been assessed by the Inland Revenue Valuation Department on the basis of 1939 values. A number of factors such as the location of the factory, the condition of the buildings, the absence of natural lighting, the retention of part of the space for storage of machinery, and the desirability to maintain potential capacity against any possible future re-expansion of the aircraft programme have had to be taken into account. I regret that in these circumstances I am unable to disclose the amount of rent charged for individual premises as such a figure might prove seriously misleading without a full knowledge of all the particular conditions applicable, some of which I have enumerated.
§ Mr. SilkinIn view of the facts which my right hon. and learned Friend has stated is it not open to any hon. Member to form a judgment as to the rent?
§ Sir S. CrippsIt is open to any hon. Member to form a judgment, but without the material in detail upon which to form it, it would probably be a wrong one.
§ Mr. SilkinThis factory has been put up for an expenditure of between £3,000,000 and £4,000,000, according to a reply given to me by my right hon. and learned Friend last week. Surely the House is entitled to know at what rent the factory is to be let?
§ Sir S. CrippsThat question only shows how easily misunderstandings may arise. The cost of the erection was £1,700,000, and £2,700,000 was the cost of machinery installed in the factory and of its installation.
§ Mr. SilkinOwing to the unsatisfactory nature of the reply, I beg to give notice that I will raise the matter on the Adjournment.