HC Deb 17 July 1972 vol 841 cc20-1
20. Mr. Rost

asked the Secretary of State for Trade and Industry what is his estimate of export earnings arising from sales by Rolls-Royce (1971) Limited of RB211 engines, spares and services during each of the years from 1972 to 1976.

Mr. Michael Heseltine

I understand that Rolls-Royce (1971) Ltd. expect these to amount to about £65 million this year, about £80 million next year and about £100 million in each of the following three years.

Mr. Rosts

While those figures for exports of the Rolls-Royce RB211 engines are most encouraging, may I ask my hon. Friend whether he does not agree that the export potential would be even greater if only we could get a decision on the finance required for a stretched version, since foreign airlines would no longer hesitate in ordering the TriStar plus the stretched version, and this would secure export orders for a long time to come?

Mr. Heseltine

I am aware of the interest in the decision of BAB in respect of the TriStar and the decision on any possible uprating of the RB211 engine. My hon. Friend will be aware of the statement I made recently that I hoped to reach a decision on both these matters within a few weeks.

Mr. Walter Johnson

Is the hon. Gentleman aware that an order for TriStar by BEA would have an encouraging effect upon other international airlines and would help the export position?

Mr. Heseltine

I am fully aware of the ramifications of the BAB order.

Mr. Joel Barnett

Can the hon. Gentleman tell us, as he has been able to give us this estimate, what is his estimate of the return to the Exchequer and the public from the Government intervention giving this investment to the company?

Mr. Heseltine

The hon. Member will know better than most that the figures I gave were gross sales figures and that they have relatively little to do with return on investment.

Mr. Barnett

What is the answer?

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