§ 75. Mr. Walter Johnsonasked the Minister of Aviation Supply what steps the Government propose to take to preserve the pensions rights and redundancy pay under the firm's arrangements of workers in Rolls-Royce.
§ Mr. David PriceArrangements for occupational pensions and redundancy payments for Rolls-Royce Ltd. employees are in the first instance a matter for Rolls-Royce Ltd. under the authority of the Receiver and Manager. However the Memorandum and Articles of Association of Rolls-Royce (1971) Ltd. provide for the transfer of rights in existing pension schemes of Rolls-Royce Ltd. in relation to employees of the new company.
§ Mr. Arthur Lewisasked the Minister for Aviation Supply why he did not announce the appointment of assessors to go into matters pertaining to the Rolls-Royce collapse to the House of Commons; and whether in future he will 155W make such statements first to the House of commons.
§ Mr. CorfieldI avail myself of a number of sources of advice; and it would not be appropriate to inform the House on each occasion.
§ Mr. Arthur Lewisasked the Minister for Aviation Supply whether he will give an assurance that compensation or payments on takeover of Rolls-Royce shares by Her Majesty's Government will not exceed the stock exchange quoted price at the date of the announcement of the Rolls-Royce collapse.
§ Mr. David PriceThe Government will be acquiring certain assets of Rolls-Royce Ltd. We are not purchasing the shares of that company.