HC Deb 03 November 1980 vol 991 cc445-6W
Mr. Foulkes

asked the Secretary of State for Scotland on what date the Scottish Development Agency acquired the majority ownership of Stonefield Vehicles; on what date instructions were given to the Scottish Development Agency to seek a "private partner" for Stonefield Vehicles; and on what date the receiver was appointed by the Scottish Development Agency.

Mr. Alexander Fletcher

The Scottish Development Agency increased its existing minority holding to 76 per cent. of the equity in January 1978; it was given approval in December 1979 to invest further funds in the company on condition that it continued the initiative it had itself taken the previous year to obtain a private sector partner; the agency appointed a receiver on 30 July 1980.

Mr. Foulkes

asked the Secretary of State for Scotland what written or verbal invitations he or Ministers in his Department received to visit the Stonefield factory at Cumnock; and why, in view of the fact that the factory was then the main investment of the Scottish Development

Mr. Rifkind

[pursuant to his reply, 31 October 1980, c. 378]: Given the priorities elsewhere and the continuing need for restraint in public expenditure, there is little prospect or justification at present for bringing forward these schemes.