§ Mr. Bruce-Gardyneasked the Secretary of State for Industry what was the purpose for which £3.8 million financial assistance under the Industry Act was granted to Triumph Motor Cycles in 1973; and if he will set out in the OFFICIAL REPORT the points at which that purpose differed from the purpose of his financial assistance which he now proposes to offer to the same concern.
§ Mr. HefferUnder the previous administration £4.872 million was invested in Norton Villiers Triumph Ltd. in the form of non-voting preference shares under Section 8 of the Industry Act 1972. I understand that the principal objective in providing this assistance was the creation of a healthy motor cycle industry in the United Kingdom through that company operating efficiently and profitably. I have no present intention of offering further assistance under the Industry Act to Norton Villiers Triumph Ltd. The proposed workers' co-operative at Meriden will be a separate undertaking.