HC Deb 21 December 1976 vol 923 cc125-6W
Mr. Ian Lloyd

asked the Secretary of State for Industry what proportion of the public funds to be provided for the introduction of a new Mini by British Leyland will be borrowed abroad.

Mr. Kaufman

Public funds are made available to British Leyland for general capital purposes and not in respect of particular capital investment programmes.

Mr. Ian Lloyd

asked the Secretary of State for Industry what rate or rates of interest are being used in the discounted cash flow calculations applied to the capital investment programme for the new Mini by British Leyland and the Treasury, respectively.

Mr. Kaufman

British Leyland uses interest rates compatible with the requirement laid on the NEB under its draft guidelines. Rates used by the Treasury would be a matter for my right hon. Friend the Chancellor of the Exchequer.

Mr. Ian Lloyd

asked the Secretary of State for Industry at what point in the production programme for the new Mini a positive cash flow is expected.

Mr. Kaufman

This is a matter for the NEB. The hon. Member will appreciate that it would not be right to disclose commercially confidential information of this nature.