HC Deb 17 June 1976 vol 913 cc269-70W
Mr. Grylls

asked the Secretary of State for Industry how much public money has been committed altogether by the Government to International Computers Limited (a) by means of loans and (b) by means of equity participation.

Mr. Les Huckfield

Under the Science and Technology Act the Government have committed to ICL: £40 mililon in general research and development support payable up to September 1976; £3.5 million

ments made by his Department which are held by peers of the realm, the names of the holders, the salaries and expenses paid to the holders of these appointments and when such appointments were made.

Mr. Les Huckfield

The information is as follows:

in various cost-shared development contracts. There are provisions for repayment of these sums to my Department out of sales or profits.

Under the Computers Merger Project 1968, the Industrial Expansion Act 1968, the Government paid: £3.5 million for the purchase of shares which were transferred to the National Enterprise Board on 24th May 1976; £13.5 million as a grant towards research and development expenditure up to September 1971.

In addition the NEB has acquired from the General Electric Co. Ltd. a 13.9 per cent. shareholding in International Computers (Holdings) Ltd. for nearly £7 million.