§ Mr. Joel Barnettasked the Secretary of State for Trade and Industry if he will give his latest estimate of the costs to the Exchequer of research and development and of the contribution towards production costs, less repayments (if any) in respect of the Concorde aircraft, together with any estimate he has made from information available to him of the profits to date by BAC Ltd, as well as the total capital provided by BAC Ltd in respect of this project.
§ Mr. OnslowThe latest estimate of the United Kingdom share of development costs was reported to the House on 4th May 1972 as £480 million. The Government propose to finance production by repayable loans, which will be recovered from the proceeds of sales. So far £46 million has been advanced to the United Kingdom manufacturers. It is not customary to reveal commercially confidential information about Government contractors.
§ Mr. Sheldonasked the Secretary of State for Trade and Industry what is the amount of money spent by Her Majesty's Government on the Concorde project since 18th June 1970.
§ Mr. OnslowExpenditure incurred by Her Majesty's Government on the Concorde project since 18th June 1970 amounts to £197 million.