Export Credits Guarantee Department (Hansard, 17 July 1972)

§ 4. Mr. Norman Lamont
asked the Secretary of State for Trade and Industry what action he proposes to take on the report of Mr. D. G. Scholey on the Export Credits Guarantee Department.

§ Mr. Noble
As I announced in the House on 10th May, the Government have accepted the central recommendation that ECGD should remain a separate executive agency within the Civil Service. The recommended changes in senior management structure have been made. The other recommendations are being studied and decisions will be taken as soon as possible.

§ 34. Mr. Edward Lyons
asked the Secretary of State for Trade and Industry whether he will arrange for an office of the Export Credits Guarantee Department to be set up in Bradford.

§ Mr. Noble
There is at present an ECGD office in Bradford. We plan shortly

EXPENDITURE ON ACQUISITIONS AND MERGERS OF INDUSTRIAL AND COMMERCIAL COMPANIES SINCE 1965

Total Acquisitions Mergers^*

Number £ million Number £ million Number £ million

Quoted companies† (company accounts)

1964 … … … … 940 505 939 502 1 3

1965 … … … … 1,000 517 995 507 5 10

1966 … … … … 808 502 805 447 3 55

1967 … … … … 763 822 763 822 — —

1968 … … … … 946 1,946 942 1,774 4 172

1969 … … … … 906 935 904 927 2 8

All industrial and commercial companies (Press reports)

1969 … … … … 846 1,069 844 1,061 2 8

1970 … … … … 793 1,122 787 1,080 6 42

1971 … … … … 884 911 884 911 — —

^* A merger is valued at the market value of the smaller company's share of the newly formed company (i.e., it is reckoned as the acquisition of the smaller company by the larger company involved in the transaction).

† Excluding companies mainly operating abroad and agricultural shipping and property companies.

§ 51. Mr. Loveridge
asked the Secretary of State for Trade and Industry how many mergers and takeovers have been screened by the Department of Trade and Industry since the Monopolies and Mergers Act, 1965, came into force; what proportion of these was refused; and how
2W
to merge this into a new and larger regional office in Leeds. The new office will offer an improved service to exporters throughout Yorkshire and the North East, including those in Bradford.

EXPENDITURE ON ACQUISITIONS AND MERGERS OF INDUSTRIAL AND COMMERCIAL COMPANIES SINCE 1965
					Total	Acquisitions	Mergers^*
					Number	£ million	Number	£ million	Number	£ million
Quoted companies† (company accounts)
1964	…	…	…	…	940	505	939	502	1	3
1965	…	…	…	…	1,000	517	995	507	5	10
1966	…	…	…	…	808	502	805	447	3	55
1967	…	…	…	…	763	822	763	822	—	—
1968	…	…	…	…	946	1,946	942	1,774	4	172
1969	…	…	…	…	906	935	904	927	2	8
All industrial and commercial companies (Press reports)
1969	…	…	…	…	846	1,069	844	1,061	2	8
1970	…	…	…	…	793	1,122	787	1,080	6	42
1971	…	…	…	…	884	911	884	911	—	—
^* A merger is valued at the market value of the smaller company's share of the newly formed company (i.e., it is reckoned as the acquisition of the smaller company by the larger company involved in the transaction).
† Excluding companies mainly operating abroad and agricultural shipping and property companies.