§ Mr. Cryerasked the Secretary of State for Northern Ireland if he will list the Government-appointed directors to the board at De Lorean Motor Cars Ltd., their ages, pay and business and industrial experience.
§ Mr. Adam ButlerThe two directors nominated to the boards of De Lorean Motor Cars Ltd. and De Lorean Motor Company by the Northern Ireland Development Agency are Mr. Alex H. Fetherston and Mr. James Sim. Mr. Fetherston is 64 years of age and a licensed solicitor in Northern Ireland since 1939. Since 1979 he has been deputy chairman of Spence Bryson and Co. Ltd., a manufacturer of linen, carpets and shirts. He was deputy chairman and chief executive of V. F. Corporation Ltd., a manufacturer of jeans and hose from 1971 to 1979. He is a member of the industries development advisory committee of the Department of Commerce. Mr. Sim is aged 63 and prior to 1979 was a member of the main board and general manager of the northern division of the Bank of Ireland; he is deputy chairman of the industries development advisory committee of the Department of Commerce. Each receives fees of £5,000 per annum and $600 per day for each day of audit committee work.
§ Mr. Cryerasked the Secretary of State for Northern Ireland what is the estimated cost per job at the De Lorean Motor Cars Ltd. plant at Dunmurry, Northern Ireland, calculated by dividing total Government investment by the number currently employed.
§ Mr. Adam ButlerBased on the present work force of 2,557 employees at De Lorean Motor Cars Ltd. the cost per job of Government grant-aid to the company is £11,133; if Government loans and the subscription of share capital by the Northern Ireland Development Agency are included the cost becomes £26,180.
§ Mr. Cryerasked the Secretary of State for Northern Ireland if, in view of the ending of any confidentiality due to pending court action, he will place in the Library a copy of the agreement between De Lorean Motor Cars Ltd. and the Department of Commerce and the Northern Ireland Development Agency.
§ Mr. Adam ButlerNo. As I have said previously, the agreement between De Lorean Motor Cars Ltd. and the Department of Commerce and the Northern Ireland Development Agency was concluded on the basis of166W commercial confidentiality. The agreement has not been published as a result of the recent allegations and subsequent legal action.
§ Mr. Cryerasked the Secretary of State for Northern Ireland whether any funds provided by Her Majesty's Government to De Lorean Motor Cars Ltd. are being used to meet the legal fees of any court action.
§ Mr. Adam ButlerAny legal costs properly incurred by De Lorean Motor Cars Ltd. or De Lorean Motor Co. will presumably be met from the companies' general income.
§ Mr. Cryerasked the Secretary of State for Northern Ireland if he will list the names of the members of the audit committee which has responsibility for the De Lorean Motor Car Co. Ltd.; and whether any members are associated directly or indirectly with the company financially or in any other way.
§ Mr. Adam ButlerDe Lorean Motor Cars Ltd. does not have an audit committee. However, I am informed that there is an audit committee which deals with the affairs of the De Lorean Motor Co. Appointment of members to the committee is a matter for the company. I understand, however, that the two Northern Ireland Development Agency nominee directors to the company, Mr. Alex Fetherston and Mr. James Sim, are both members of the audit committee.