HL Deb 05 February 1997 vol 577 cc149-50WA
Lord Kennet

asked Her Majesty's Government:

Whether British Aerospace and Rolls-Royce have asked them to abolish the limits they imposed on foreign shareholdings in the companies when the two groups were privatised, and, if so, in favour of what foreign investors.

The Minister of State, Department of Trade and Industry (Lord Fraser of Carmyllie)

Both British Aerospace plc and Rolls-Royce plc have asked Her Majesty's Government to remove the limit on their foreign shareholdings. The companies believe that this limit restricts their ability to perform competitively in international markets. We are considering their request.