§ Mr. Grylls
asked the Secretary of State for Industry what interest has been paid by the Meriden motor cycle co-operative on its Government loans in the years 1976–77, 1977–78 and 1978–79; whether he expects interest to be paid in the year 1979–80; and if he will make a statement of his policy towards the future of the co-operative.
§ Mr. Les Huckfield
Interest on the Government loan to this company of £4.2 million is payable half-yearly, falling due 43W for payment on 30 June and 31 December. The instalment due on 30 June 1976, amounting to £128,589.05, was paid on 21 July 1976. The payment of subsequent instalments up to and including that falling due on 31 December 1978 was deferred under the arrangements announced on 7 February 1977. As regards the last two parts of the question, I refer the hon. Gentleman to the reply given to the hon. Member for Rushcliffe (Mr. Clarke) on 19 March.