HC Deb 19 January 1976 vol 903 cc309-10W
18. Mr. Madel

asked the Secretary of State for Industry what is the estimated amount of money from public funds advanced to Chrysler United Kingdom Limited, to be invested in Chrysler factories in Dunstable, the Midlands and Linwood in 1976; what the estimated figures from public funds for investment will be in those factories for 1977, 1978 and 1979; and if he will make a statement.

Mr. Kaufman

I cannot make details of Chrysler's expenditure available. To do so would be prejudicial to the interests of the company.

Mr. Stanley

asked the Secretary of State for Industry whether he will place in the Library a copy of the heads of agreement with Chrysler, together with a copy of the main agreement when it is signed.

Mr. Kaufman

I have placed the Agreement, together with copies of the following documents, in the Library:

The Guarantee from the Secretary of State for Industry to the Midland Bank in respect of the £35 million loan.

The Deed of Indemnity between Chrysler Corporation, Chrysler United Kingdom Limited and the Secretary of State for Industry in respect of the guaranteed £35 million loan by the clearing banks.

The Deed of Guarantee between Chrysler Corporation and the Secretary of State for Industry in respect of the £28 million loan.

The Debenture for the £27 million loan.

The Deed of Waiver between Chrysler Corporation and Chrysler United Kingdom.

The letter dated 5th January from Mr. R. H. W. Bullock to Chrysler (United Kingdom).

The "facility letter" dated 5th January from the Midland Bank to Chrysler (UK) Limited.

Mr. Adam Butler

asked the Secretary of State for Industry if, in the light of contrasting responses to the company's voluntary redundancy schemes, particularly at Linwood and Ryton, Coventry, he will immediately undertake further discussions with the Chrysler management with a view to continuing Avenger assembly at the Ryton plant; and seek other ways of transferring less work from Coventry to Scotland.

Mr. Kaufman

No. The plans for Chrysler United Kingdom Limited have been accepted in principle by the majority of the Chrysler work force.