§ Mr. Gryllsasked the Secretary of State for Industry what arrangements he has made in his Department for regular monitoring of the financial performance of British Leyland Ltd.; and if he is satisfied that these arrangements provide him with objective information about British Leyland.
§ Mr. WakehamBL Ltd submits to the Department monthly reports on its financial performance against its corporate plan. These are reviewed by a regular monitoring team from the Department and the Treasury, which includes accountants on secondment from major accountancy firms in the Department's industrial development unit and in the Treasury, and the Department's economists. The monthly reports are discussed at meetings with the company, and Department of Industry Ministers are kept informed of the company's progress. Other ad hoc meetings are held with BL as necessary. I am satisfied with these monitoring arrangements.