§ Mr. Hendersonasked the Secretary of State for Industry if he will make a statement on the progress of inquiries into aid arrangements offered by the French Government for the Timex operations in France.
§ Mr. Kenneth BakerAssurances have been given by the company that no production has been transferred from Dundee to France. However, the company has also said that the French authorities have agreed to provide grant assistance of around £12 million to Fralsen, the holding company for the French Timex operation, and that loans of around £43 million are being negotiated from the Credit National. We have asked the European Commission to establish whether the assistance reportedly on offer is in accordance with Treaty of Rome obligations.