HC Deb 08 April 1986 vol 95 c19W
Mr. Baldry

asked the Secretary of State for Trade and Industry what has been the cost to the taxpayer for each job supported in BL plc over the last year.

Mr. Peter Morrison

BL employs 80,000 people worldwide. There has been no direct Government funding to the company in the current financial year, although it received a total of £2.2 billion in the period 1975–83. In addition, the Government have said that they will ensure that the obligations of BL are met. These obligations amounted to about £1.6 billion at the end of 1985.

The BL board made it clear in its 1984 annual report that in future BL's funding needs will be met from a combination of operating cashflow, the proceeds of a progressive return of the constituent businesses of the BL group to private ownership and from private borrowings.