§ Mr. Rentonasked the Secretary of State for Industry whether, in his assessment of the BL corporate plan 1981, it is his view that its success depends on a 10 per cent. fall, from 83 to 75, in the old trade-weighted exchange index; and what steps he plans if this currency movement does not take place.
§ Mr. Michael MarshallThe success of the BL corporate plan depends on a number of considerations, both external and internal to the company. The letter sent to my right hon. Friend the Secretary of State by Sir Michael Edwardes on 26 January 1981 clearly states what action both the BL board and the Government would take if, for either external or internal reasons, the corporate plan were not being achieved and recovery appeared impossible within the timescale envisaged. BL's exchange rate assumption for 1981, on the old trade-weighted index basis, is 74.