HC Deb 27 October 1982 vol 29 c396W
Mr. Corrie

asked the Secretary of State for Scotland whether he has now determined a new financial duty for the factory provision functions of the Scottish Development Agency; and if he will make a statement.

Mr. Younger:

The Scottish Development Agency has been informed of my determination in the following terms: Having regard to its statutory functions and to the Government's Guidelines it will be the duty of the Agency to earn the best practicable financial return from the purchase and development of land and the construction and letting of factories. To this end, in providing and letting industrial premises the Agency will aim to achieve:

  1. (a) rental income from new and modernised premises completed during a rolling 3–year period at least equivalent to an agreed return on the all-in capital investment in such premises. The target return is to be agreed annually with the Scottish Office;
  2. (b) a financial surplus (or deficit) resulting from the whole operation of its industrial estates and factory provision operations, at least equal to the amount set out in the annual operational budget of relevant income and expenditure to be agreed each year with the Scottish Office."