HC Deb 17 March 2000 vol 346 c365W
Dr. Cable

To ask the Secretary of State for Trade and Industry if, following his decision to aid the A3XX Super-Jumbo project, he will publish(a) an independent investment appraisal of the project and (b) a report on his efforts to finance the project on a fully commercial basis. [115137]

Mr. Byers

My Department has received independent advice on the financial implications of the application from BAE SYSTEMS for launch investment for the A3XX from PricewaterhouseCoopers. The specific terms of the investment are commercially confidential. I am satisfied that the basis of the Government's participation in this risk sharing partnership is fully justified by the benefits it will secure for the UK economy, by ensuring substantial UK involvement in the design and production of this advanced aircraft. Supporting innovation and enterprise, improving productivity and developing skills is the only way forward in the knowledge-based economy of the 21st Century.