HC Deb 05 July 1979 vol 969 cc690-2W
Mr. Colvin

asked the Secretary of State for Industry if he will list those companies nationalised under the Aircraft and Shipbuilding Industries Act 1977, showing how much has been paid to each of them by way of compensation, and the dates these payments have been made; and if he will indicate which companies have not been paid in full in accordance with the terms of the Act and

Date Amount (including any payment on account)
£000
Listed securities
Robb Caledon Shipbuilders Limited 24.6.77 1,739
John G Kincaid & Company Limited (preference shares) 24.6.77 118
Unlisted securities
Barclay, Curle & Company Limited 5.7.78 15,000
Clelands Shipbuilding Company Limited
The Goole Shipbuilding and Repairing Company Limited
Swan Hunter Shipbuilders Limited
Smith's Dock Company Limited
Swan Hunter Training and Safety Company Limited
Hawker Siddeley Aviation Limited 15.8.78 60,000
Hawker Siddeley Dynamics Limited
Austin & Pickersgill Limited 16.8.78 14,000
George Clark & NEM Limited 1.11.78 1,940
Hawthorn Leslie (Engineers) Limited 5.6.79 1,475

Payments on account have been made in respect of the companies for which compensation remains to be settled. These payments were made pursuant to announcements made by the previous Government on 25 January, 21 April, 18 July and 23 November 1978 and on 3 April 1979. The total payments made are as follows:

£000
British Aircraft Corporation (Holdings) Limited 40,000
Scottish Aviation Limited 2,100
Brooke Marine Limited 650
Cammell Laird Shipbuilders Limited 400
Hall Russell & Company Limited 650
John G. Kincaid & Company Limited (ordinary shares) 2,250
Scott Lithgow Limited 750
Scott Lithgow Drydocks Limited
Vickers Shipbuilding Group Limited 8,450
Vosper Thornycroft (UK) Limited 1,350
Vosper Shiprepairers Limited
Yarrow (Shipbuilders) Limited 2,250
Yarrow (Training) Limited

I cannot say when the remaining cases will be resolved. Two have been referred to arbitration. Negotiations are proceeding on the others and it is not possible to say whether these cases will be settled by negotiation or arbitration.

Payments of compensation are made on behalf of the Government by the Bank of England, within about two weeks of the announcement of a compensation settlement or of payments on account.

when he expects these final settlements to be made.

Mr. Michael Marshall

The settlements announced to date are as follows:

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