HC Deb 09 February 1965 vol 706 cc53-4W
52 and 53. Mr. Gregor Mackenzie

asked the Chancellor of the Exchequer (1) if he will give the amount of capital invested by the firm of Richard Thomas and Baldwins in improving their works from 1959 to the latest convenient date;

(2)what Government money has been loaned to the firm of Richard Thomas and Baldwins; and if he will make a statement.

Mr. Diamond

The company's annual accounts show an increase of £156.1 million in net fixed assets over the six years ending September, 1964. The latest accounts show that the total of loans outstanding at 30th September, 1964, was £139.1 million. Of this £70 million is owed to my right hon. Friend the Minister of Power, and the balance represents advances by the Iron and Steel Holding and Realisation Agency under Section 20(1)(a) of the Iron and Steel Act, 1953. In addition the Agency have made available a further £50.2 million which was converted into ordinary stock in November, 1963.