§ Mr. Russell Johnstonasked the Secretary of State for Scotland whether he will set up an inquiry to investigate the use of financial assistance given by the Highlands and Islands Development Board to Savo Electronics Ltd., Inverness, in the light of the firm's use of a Swiss company to handle overseas receipts and of its having been placed in the hands of a receiver.
§ Mr. YoungerI have no plans to do so. The Highlands and Islands Development Board has undertaken an inquiry by commissioning professional accountants to carry out a financial investigation of the affairs of Savo Electronics Ltd. This investigation has produced no evidence to suggest that the firm's commercial difficulties have arisen from the contacts between it and the Swiss company.
§ Mr. Russell Johnstonasked the Secretary of State for Scotland whether he will list the amounts of public money paid to Savo Electronics Ltd. through the Highlands and Islands Development Board, giving dates on which the grants were made and indicating what other assistance was rendered.
§ Mr. YoungerGrants and loans provided by HIDB are as follows:
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Date of approval Grams Loans Special contribution to research and development Total 28 November 1978 100,000 150,000 — 250,000 8 July 1980 35,000 100,000 40,000 175,000 TOTALS 165,000 290,600 40,000 495,600 In addition, the board has incurred expenditure of £817,500 by way of factory adaptations, extension and refurbishing for use by the company.
§ Mr. Russell Johnstonasked the Secretary of State for Scotland what consultations his Department is holding with a view to securing employment for those persons whose jobs are placed at risk by the receivership of Savo Electronics Ltd., Inverness; and if he will make a statement.
§ Mr. YoungerMy officials are maintaining contact with the Highlands and Islands Development Board, which is keeping a close watch on the position of Savo Electronics Ltd. I am hopeful that the prospects for survival of the company's operations in Inverness will be improved as a consequence of the receivership, and that the risk to jobs will be minimised.