HC Deb 26 January 1976 vol 904 cc93-4W
26. Mr. Les Huckfield

asked the Secretary of State for Industry whether he will make a further statement about monitoring the progress of the agreement with the Chrysler Corporation.

Mr. Varley

Arrangements have been made for Coopers and Lybrand to act as advisers to my Department in connection with the monitoring to be carried out in accordance with the agreement reached with Chrysler Corporation and Chrysler United Kingdom.

Mr. Richard Wainwright

asked the Secretary of State for Industry (1) whether the £.162.5 million designated as potential maximum financial assistance to Chrysler (UK) Limited is a cash limit at present prices or a commitment which will be adjusted by projected inflation rates;

(2) if he will publish the cost escalation clauses included in the recent agreement between the Government and the Chyrsler Corporation.

Mr. Kaufman

The full text of the agreement was placed in the Library on 19th January. The sum of £.162.5 million includes provision for increased costs up to 1979 and there is no commitment for upward revision.