§ Mr. Terry Walkerasked the Secretary of State for Industry what is his latest estimate of the development and production costs of Concorde.
§ Mr. VarleyThe latest estimate of the manufacturers' total development costs in Britain and France is £1,154 million. There has been a net increase in the estimate of £58 million compared with that given to my hon. Friend by my predecessor on 24th March 1975. Pay and price increases in Britain and France account for £46 million, and changes in the exchange rates for £21 million. It has been decided to make provision for five years—not for two years as done previously—for engine development. But in spite of this addition of £21 million to development costs, there has been a small decrease of £10 million in the total estimate measured in real terms.
The expenditure is divided as follows between actual past expenditure and estimated future expenditure:
is divided as between actual past expenditure and estimated future expenditure as follows: