§ Mr. Arthur Lewisasked the Secretary of State for Industry when the firm of Ferranti Ltd will repay its dues to the Government; if he will give directions to the National Enterprise Board not to sell off 1,335,000 shares to existing Ferranti shareholders at bargain prices at the cost of the taxpayer; and whether he will make a statement.
§ Mr. Les HuckfieldFerranti's financial obligations to the Government are commercially confidential. The statement by my right hon. Friend the then Secretary of State for Industry on 14th May 1975—[Vol. 892, cc. 467–8]—made clear that the Government had undertaken to sell 1,333,333 non voting shares in certain circumstances. The NEB's voting shareholding would be unaffected.