§ Mr. Hoyle
asked the Secretary of State for Industry what total assistance is being given to British Leyland for each of the years 1976–77, 1977–78, 1978–79 and 1979–80; and whether such funds will be made available under Section 8 of the Industry Act or by the NEB.274W
§ Mr. Les Huckfield
My right hon. Friend expects that in the year 1976–77 £80 million will be advanced to British Leyland, £50 million being provided from NEB resources and £30 million under Section 8 of the Industry Act 1972 by direction to the NEB in accordance with Section 3 of the Industry Act 1975. No decision has yet been taken about the total funds to be provided in later years, the timing of any payments, or their source. However, provision was made in the White Paper on Public Expenditure (Command 6393) for a total of £200 million under Section 8 of the Industry Act 1972 and £300 million assumed to be required from the funds available to the National Enterprise Board in the period up to 1979–80.