Mr. Edward M. Taylor
asked the Minister of Technology what was the total Government investment in the Fairfield Shipbuilding and Engineering Company; what profits or losses have accrued from this investment: and if he will make a statement.
§ Mr. Fowler
The Government acquired 530,000 £1 shares in Fairfields (Glasgow) Limited, on which no dividend was paid. As a result of the company being taken over by Upper Clyde Shipbuilders Limited, the Government now hold 875,000 £1 shares in the latter company instead. The Government also hold £940,000 of Fairfield's 7 per cent. unsecured loan stock on which the interest received up to 30th June, 1968, amounted to £166,881.