§ 2.49 p.m.
§ LORD DELACOURT-SMITHMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ [The Question was as follows:
§ To ask Her Majesty's Government what estimates they have before them of the expected balance-of-payments effects of the sales and purchases of civil aircraft (including engines), and associated spares over the next ten years.]
§ THE MINISTER WITHOUT PORTFOLIO (LORD DRUMALBYN)My Lords, it is not the practice to publish forecasts of commercial sales or purchases of civil aircraft.
§ LORD DELACOURT-SMITHMy Lords, while appreciating what the noble Lord has said, may I ask whether he is really saying that he cannot put the House in possession of the estimates which were before Her Majesty's Government when they reached the decision on the BAC 311?
§ LORD DRUMALBYNYes, my Lords. The noble Lord is asking for a long-term estimate of balance of payments in connection with civil aircraft. As he will no doubt recall, these estimates are made from time to time as occasion requires, 1188 but they have never been published in the past and it would not be appropriate to publish them now.
§ LORD BURNTWOODMy Lords, would not the noble Lord accept that these days a considerable amount of public money goes into most aircraft developments, including engines, and therefore that the fullest information ought to be disclosed to the public?
§ LORD DRUMALBYNMy Lords, one reason for not wishing to publish these figures is that they are bound to be tentative. They are based on a great number of variables; and, of course, there are complexities of international financing. This would make any year-to-year estimate of balance of payments very difficult and almost worthless unless the assumptions on which they were based were given, and that would not be in the interests of aircraft construction.
§ LORD DELACOURT-SMITHMy Lords, if I may pursue the point a little further on one aspect of the question, may I ask whether the noble Lord is able to tell us if, over the period in question, he expects that B.E.A. or B.O.A.C., or both of them, are likely to be net spenders of foreign currency rather than net earners?
§ LORD DRUMALBYNNo, my Lords. I could not give that information without notice, and I am not certain that I should be able to give it even with notice. But if the noble Lord will put down a Question, I will see what can be done.