HC Deb 16 June 1971 vol 819 cc107-8W
Mr. Peter Rees

asked the Chancellor of the Exchequer if he will list, in relation to the quoted and unquoted companies in which Her Majesty's Government hold shares, the consideration for their acquisition.

Mr. Patrick Jenkin

Following is the information:

Name of Company Cost of Acquisition
£
Beagle Aircraft Ltd. (in liquidation) 1,142,490
British Nuclear Design and Construction Ltd 260,000*
British Petroleum Co., Ltd. 36,155,000
British Sugar Corporation Nil†
Brown Bayley Ltd ‡
Cable and Wireless Ltd. 34,795,000*
Cammell Laird (Shipbuilding & Engineers) Ltd. (§) 1,500,000
Chrysler (U.K.) Ltd. 1,662,228*
English Electric Co., Ltd. 2,500,000*
Herbert-Ingersoll Ltd. 525,000*
International Computers (Holdings) Ltd. 3,500,000║
Itabira Iron Ore Co., Ltd. (in liquidation) 157,500
Kearney & Trecker Ltd. 300,000*
George Kent Ltd. 6,504,861*
Marwin (Holdings) Ltd. 750,000*
Nuclear Enterprises Ltd. 100,000*
Power Jets (R. & D.) Ltd. (in liquidation) 250,000
Ransome Hoffmann Pollard Ltd. 6,342,931*
Rolls-Royce Ltd. 10,000,000*
Rolls-Royce (1971) Ltd. 20,000.000¶
SB Realisations Ltd.** 1,262,170
Spirella Group Ltd. 400,000*
Suez Finance Company 4,076,622††
The Laird Group Ltd. 1,225,208*
Toplis and Harding (Middle East) Ltd Nil
Upper Clyde Shipbuilders Ltd. 530,000‡‡
Welsh Highland Light Railway (in liquidation) 35,774
* Loan stock (including loans convertible into equity) or other shares previously held by the I.R.C. but recently transferred to the Secretary of State for Trade and Industry.
† Her Majesty's Government's holding was acquired in consideration of loan guarantees made under the Trade Facilities Acts 1921–26 to the former Anglo-Scottish Sugar Beet Companies.
‡ Brown Bayley Ltd. is a holding company for the following investments:
Brown Bayley Steels Ltd.,
2,404,000 schares of 50p—Cost: £1,470,453.
Ransome Hoffmann Pollard Ltd.,
£2,700,000 8 per cent. Convertible Unsecured Loan Stock 1984—Cost: £2,700,000.
1,200,000 Deferred Ordinary shares of 25p —Cost: £588,911.
§ The Public Trustee holds these shares on behalf of the Secretary of State for Trade and Industry.
║ The Government have so far paid only 10p (2s.) for each share. The balance of 90p (18s.) per share is due on 28th September, 1972.
¶ An advance of £20 million has been made from the Contingencies Fund. The Fund will be repaid in due course by means of a Supplementary Estimate.
**SB (Realisations) Ltd. is the holding company for the Government's share in Short Brothers & Harland.
††The original cost of Her Majesty's Government's investment in the Suez Canal Co.
‡‡ The original cost of Her Majesty's Government's investment in Fairfields (Glasgow) Ltd., now merged in Upper Clyde Shipbuilders Ltd.

NOTE.—This Table covers all shareholdings held by Government Departments except for a number of small groups of shares held mainly by the Ministry of Agriculture, Fisheries and Food in mixed agricultural enterprises such as agricultural co-operatives. The total nominal value of these shares is very small. Unsecured and secured loans made by the I.R.C. which are not convertible into equity and which have recently been transferred to the Secretary of State for Trade and Industry have been excluded.