§ Mr. Trippierasked the Secretary of State for Northern Ireland if he will make a statement about funding to Short Brothers Ltd. for the year to 31 March 1984.
§ Mr. PriorFollowing consideration of Short Brothers' corporate plan 1982 update, the Government have given approval to the company maintaining the strategy endorsed in December 1981.—[Vol. 15, c.411.] Under this the company will continue development of the three sides of its business—aircraft, aerostructures and guided missiles—and in particular will seek to maximise sales of the SD360 commuter airliner.
The Government have authorised an increase in the company's cumulative external funding requirement from £78 million for the period to 31 March 1983 to £90 million for the period to 31 March 1984.
As its contribution to financing the additional £12 million requirement, the Government will provide £7.4 391W million in 1983–84, largely by means of payments under a launch aid contract on the SD360. The balance of the £12 million will be raised through commercial borrowings.