HC Deb 11 May 1983 vol 42 c315W
Mr. Iain Mills

asked the Secretary of State for Industry whether he has agreed strategic objectives with the board of BL Ltd.

Mr. Norman Lamont

Yes. The board's objectives are:

  1. 1. To return all the constituent businesses, either together or separately, to the private sector as soon as practical. If the return of a constituent business carries the risk of reduced viability of the remainder, the issue should be put to the Secretary of State with options.
  2. 2. Consistent with 1, to dispose of peripheral activities so as to concentrate on vehicle manufacture and sales.
  3. 3. To pursue in the corporate plan a specifically targeted programme of profitability improvement, within stated limits of public funding, so as to achieve a rate of return that would attract external funds on normal commercial terms without Government support.