HC Deb 19 January 1970 vol 794 c3W
41. Mr. Onslow

asked the Minister of Technology what supervision he has exercised over the finances of the Beagle Aircraft Company during the past three years.

Mr. Carmichael

Prior to the purchase of the undertaking the Department negotiated and exercised the right to appoint a Finance Director to the Board of the old company. The gentleman so appointed continued to act as Finance Director of the new company on its incorporation in July, 1968. The Department as shareholder has received copies of the monthly financial reports to the Beard and has held periodic meetings with them at which progress has been surveyed.

67. Mr. Ian Lloyd

asked the Minister of Technology whether he will arrange for the Central Statistical Office to undertake a detailed comparison of the discounted cash flow calculations and other criteria employed by Her Majesty's Government in reaching the decisions to invest a further £7 million in Upper Clyde Shipbuilders and not to invest any further capital in the Beagle Aircraft Company.

Mr. Benn

Careful appraisals of the implications were made in each case before the Government reached a decision.