§ Mr. Gryllsasked the Secretary of State for Industry what British Leyland estimates its share of the United Kingdom car market will be in the six-month period ending 30th September 1976.
§ Mr. Les HuckfieldThis is a commercially confidential matter for the company.
§ Mr. Gryllsasked the Secretary of State for Industry what rate of interest British Leyland will pay on the £100 million long-term loan being provided out of taxpayers' money; and on what date it will be due for repayment.
§ Mr. Les HuckfieldIn accordance with the draft guidelines for the NEB, the interest rate will be commercial and
not less than that paid by commercial firms of the highest standing".There will be several drawings before the total loan of £100 million is advanced and I cannot predict the precise rate that will apply at the time or the precise date due for repayment.
§ Mr. Gryllsasked the Secretary of State for Industry what factors have led to the latest estimate of British Leyland's 188W return on capital employed in 1983 as 19.1 per cent., as against the Ryder Report's estimate of a return on capital of 19.6 per cent. in 1982–83.
§ Mr. Les HuckfieldThese changes result from the latest assessment of the whole range of factors affecting the company's future performance.
§ Mr. Gryllsasked the Secretary of State for Industry how many cars have been "lost" by British Leyland in the eight months ended 31st May 1976, as a result of strikes, men laid idle and other stoppages.
§ Mr. Les HuckfieldI have made available to the House a summary report by the NEB on British Leyland's performance during the current financial year. As regards the more detailed information which the hon. Member is seeking, I suggest he writes to the chief executive of British Leyland on these points.
§ Mr. Gryllsasked the Secretary of State for Industry if the NEB has given British Leyland its approval for the investment needed for the Mini's replacement.
Mr. Les HuckfiedThe Ryder Report recommended that British Leyland should remain in this sector of the market and its plans are consistent with this. The project has yet to be the subject of the specific approval procedure described in the NEB's report.
§ Mr. Gryllsasked the Secretary of State for Industry what consultations he has had with the management of British Leyland and the NEB about the possibility of raising new non-equity funds for their investment programme from the insurance companies or FFI, prior to his decision to authorise the payment of £30 million to British Leyland under the Industry Act 1972.
§ Mr. Les HuckfieldI have discussed the subject of raising funds for British Leyland from private sector sources with the NEB and have agreed that this should be pursued by the NEB and British Leyland when they judge it appropriate.
§ Mr. Gryllsasked the Secretary of State for Industry by how much British Leyland has increased its sales of cars to: (a) other EEC countries, (b) Sweden and Norway, (c) Spain and Portugal and (d) 189W Austria and Switzerland in the eight months ended 31st May 1976, compared with the same period in 1974–75.
§ Mr. Les HuckfieldExports by make of car are not recorded separately in the overseas trade statistics.