HC Deb 09 February 1965 vol 706 c172
1. Mr. Woodnutt

asked the Secretary of State for Commonwealth Relations if he will state the total payments made to the managing company and the Council of Administration by Her Majesty's Government since the dockyard was taken over from Bailey, Malta, Ltd.

The Minister of State, Commonwealth Relations Office (Mr. Cledwyn Hughes)

Loans made by the British Government to Bailey (Malta) Ltd. since the Council of Administration was appointed to administer the company amounted at 31st January, 1965, to £3,556,600.

Mr. Woodnutt

While thanking the hon. Gentleman for that reply, may I point out that it does not really answer my question? I really want to know whether the managing company is making profits or losses because, according to the published figures of Bailey's, that company made profits until the time that it handed over. Is it true that the cost of this legal action will be borne by the Council of Administration?

Mr. Hughes

The position is that it is estimated that the loans issued for the original scheme will amount to £7.21 million as against the £7.25 million which the British Government agreed to contribute, but in addition there are certain new items to be financed by a scheme for financial assistance and these are estimated to cost over £½ million.

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