Mr. Wellsasked the Secretary of State for Industry of the £1,400 million provided by Parliament for British Leyland, how much has already been expended, and how much more earmarked with Government knowledge for projects completely remote from the manufacture and sale of motor vehicles such as the purchase of companies selling refrigeration equipment.
§ Mr. KaufmanSo far, the provision of £200 million to British Leyland has been authorised—under the British Leyland Act—and made available by way of new equity through a rights issue in October 1975. The acquisition to which the Question refers was made before that date.
Estimated capital expenditure requirements of each division of the business were shown in Table 14.1 of the Ryder Report. In so far as companies within the Special Products Division have been and may be expected to be profitable, resources for investment will be generated to a great extent from within the division.