§ Mr. Hooleyasked the Minister for Overseas Development what provision he has made for the contingent liability of public funds arising out of his assurances of support for the Crown Agents; and if he will make a statement.
§ Mr. PrenticeToken provision has been made in the Winter Supplementary Estimates to cover the liability on Her Majesty's Government arising from the technical insolvency of the Crown Agents. My predecessor made a statement in the House on 18th December 1974 announcing the Government's support for the Crown Agents, and I reaffirmed this assurance of support on 16th October 1975. The Crown Agents have not so far needed to seek additional financial support from Her Majesty's Government, and the Supplementary Estimates provision is necessary now only as a formal indication of the continuing contingent liability. This overall liability takes account of certain contingent liabilities on the Crown Agents arising from contracts for the supply of British goods and services, including defence equipment, undertaken by one of 25W their wholly-owned subsidiaries, Millbank Technical Services Limited, to which I have given my specific agreement.