§ 4. Mr. Ellisasked the Minister of Technology what arrangements are being made to finance the production of the Concord aircraft for airline service; and if he will make a statement.
§ 30. Mr. Onslowasked the Minister of Technology when he expects that arrangements for financing Concord production will be completed.
§ The Joint Parliamentary Secretary to the Minister of Technology (Mr. Edmund Dell)The firms have been given all the authority they need at this stage to get production started. Discussions with the firms and our French partners on the means of financing the whole production phase should be completed later this year; meanwhile there is no delay to the programme.
§ Mr. EllisIs the firm completely happy that there is nothing to stop production from going ahead and that financial agreements have been arrived at? Earlier this year the firm said that in about the middle of the year it would want to know what the financing situation was.
§ Mr. DellI must emphasise what I said in my reply—that there is no hold-up in the production phase of this aircraft and, so far as I know, the firm is not concerned about the present position.
§ Mr. OnslowWill the Minister accept that the men are certainly very concerned, that they are tired of seeing the great shop at Weybridge B.A.C. works filled with empty jigs on which no work is going on? Is he further aware that they believe that this is adding to the cost, and that time is being lost? Will he not at least stimulate production?
§ Mr. DellAs I say, there is no delay whatever in the production of these aircraft. It does not help the situation very much for the hon. Member to suggest that there is.
§ Mr. BrooksIn view of the pronounced reluctance of the contractors to contribute either to the development or production costs of this aircraft, could my hon. Friend assure the House that this reluctance will be reflected in profit margins permitted?
§ Mr. DellI am not able to say on what terms production finance will be provided until the negotiations are concluded.