Leyland Trucks—DAF (Hansard, 23 February 1987)

§ Mr. Michael Fallon (Darlington)

I beg to ask leave to move the Adjournment of the House, under Standing Order No. 20, for the purpose of discussing a specific and important matter that should have urgent consideration, namely, the financial terms of the proposed Leyland Trucks— DAF joint venture".

I raise this issue at the earliest opportunity since the full details of the proposal became clear and since the publication of the Industry Act order on Thursday night. The matter is specific because it relates only to the joint venture. It is important because it involves several thousand people, 2,000 of whom are to lose their jobs in the industry. It is urgent because, unless the House has an opportunity to debate the joint venture, the proposal will be formalised within the next few days.

The joint venture proposal is one of the largest privatisation measures of this Parliament. Whatever one's views on privatisation, it should not be accepted that the proposal should be implemented without Parliament's endorsement, other than the brief statement which was made last week. If that endorsement is not made, by Executive decision a Dutch company will be given, free of charge and free of debt, substantial public assets and a 23 per cent. share of the United Kingdom market. It will have a virtual monopoly of component supply within that market.

Had that been done by Bill or by order, questions could have been asked about the detail of the proposal, the structure of the board of the joint venture and the obligations on the principals concerned in competitive purchasing. I submit that it would be entirely wrong for such proposals to be enacted without further debate in the House and without Parliament's approval.