§ Mr. Gryllsasked the Secretary of State for Industry what rate of interest the National Enterprise Board is currently charging machine tool manufacturers for their loans.
§ Mr. Les HuckfieldUnder the draft guidelines the NEB is required, when lending to its subsidiaries or other companies
to charge a rate of interest not less than that paid by commercial firms of the highest standing when raising finance.The actual rate charged in each case depends upon the circumstances, and is a matter for the NEB.
§ Mr. Gryllsasked the Secretary of State for Industry what rate of interest the National Enterprise Board is currently charging British Leyland for the £70 million provided from NEB sources; and when this loan is due for repayment.
§ Mr. Les HuckfieldNone of this loan money has yet been advanced. The interest will be determined by the requirements of paragraph 13 of the draft guidelines for the NEB. Repayment will be due in 20 years.