HC Deb 12 January 1981 vol 996 cc421-2W
Mr. Grylls

asked the Secretary of State for Industry if, having regard to the intention to provide up to £150 million of public funds to Rolls-Royce, he will make a statement detailing the profit and loss figures over the past six months ended in November, the proposed level of public funding in 1981–82, and the terms upon which finance from the private sector is being provided, including details of any assets pledged against such borrowing.

Mr. Michael Marshall

Rolls-Royce Ltd. profit and loss figures are prepared on an annual basis; those for 1980 are not yet available. Unaudited figures for the first six months showed a pre-tax loss of £15 million.

My right hon. Friend has already stated that he expects to provide a maximum of £150 million of public funds to the company in 1981–2. The terms under which the company negotiates its medium term private sector loans are commercially confidential.