HC Deb 12 February 1986 vol 91 cc476-7W
Mr. Kennedy

asked the Secretary of State for Scotland if he will detail all moneys which have been recouped from the Scottish Development Agency and the Highlands and Islands development board, respectively, for each financial year since 1980, stating in each case whether any sums involved relate to (a) profits realised through the sale of shareholdings or assets, (b) underspend from existing budgets at the time, and (c) any other sources; and if he will make a statement.

Mr. Allan Stewart

There have been no occasions on which the Highlands and Islands Development Board has paid moneys to the Exchequer. In cases where the board did not spend the budgeted amounts approved by Parliament or obtained receipts which were not used for higher than budgeted spending there would be a reduced need for payments of grant-in-aid by my Department to the board.

A similar position applies to the Scottish Development Agency in respect of expenditure and assets funded by grant-in-aid. In addition the agency may, for its industrial investment function, borrow money from the national loans fund and receive payments of public dividend capital. Repayments of NLF borrowings arise in the normal way and have been as follows:

Principal Interest
£ £
1980–81 751,721 1,321,959
1981–82 524,033 805,271
1982–83 525,727 1,088,364
1983–84 949,161 1,142,684
1984–85 3,580,015 1,197,457

The agency's Act has from the outset provided for the possibility of annual payments to the Secretary of State from the agency in consideration of public dividend capital received. No such payment has to date been made. The agency made one exceptional repayment of £532,494, in April 1980, as a consequence of a reclassification of that amount from public dividend capital to part of the agency's capital debt.

Mr. Kennedy

asked the Secretary of State for Scotland when he last met the chairman or chief executive of the Scottish Development Agency; and what matters were discussed.

Mr. Alan Stewart

My right hon. and learned Friend met the chairman and chief executive of the agency on Friday 17 January to discuss the agency's budgetary provision for the present financial year.

Mr. Kennedy

asked the Secretary of State for Scotland when he last met the chairman of the Highlands and Islands Development Board; and what matters were discussed.

Mr. John MacKay

My right hon. and learned Friend met Mr. Cowan on 17 January 1986 to discuss budgetary provision for the present financial year.