§ Mr. CohenTo ask the Secretary of State for Trade and Industry if he will list by rank and department all officials present at the meeting between the then Trade and Industry Minister, now Minister of Defence Procurement, and the Machine Tools Technology Association in early 1988.
Privatisations and sales of major subsidiaries since 1979 (£ million) Company Date of Sale Per cent. Net Proceeds to Government Per cent. Current Capitalisation1 Per cent. British Aerospace 1981 52 43 52 — — (Secondary sale by HM Treasury) 1985 347.2 — 1,427.1 2— Cable and Wireless 1981 49 181 49 — — (Secondary sales by HM Treasury) 1983 22.3 263 22.3 — — 1985 — 576.6 — 5.114.6 — Jaguar 1984 — 3— — 4— — British Telecom 1984 50.2 3,685 50.2 8,909.2 50.2 17,747.5 Total Rolls-Royce 1987 — 1,030.5 — 1,556.8 — Rover Group5 1988 — 150 6— 7— — British Steel 1988 — 2,424.8 — 2,430.0 — Girobank 1990 — 8— — 9— — Notes: 1 At close on Friday 7 December 1990. 2 Includes Royal Ordnance and most of Rover Group. 3 Proceeds to BL plc (now Rover Group). 4 Now a wholly owned subsidiary of Ford. 5 Private sector company. 6 This does not take into account exchequer payments (including cash injection of £547 million) or exchequer cost of deferring payments of consideration. 7 Now owned by British Aerospace and Honda. 8 Proceeds to the Post Office. 9 Now owned by Alliance and Leicester Building Society.