§ Mr. Nellistasked the Secretary of State for Trade and Industry what has been the capital investment, at 1986 prices, in Rolls-Royce in each year since 1971; and, of this, for each year, what amount has been Government funded.
§ Mr. PattieFollowing is the information derived from Rolls-Royce's annual accounts.
1986 prices* Actual £ million £ million 1972 36.5 8.1 1973 35.1 8.5 1974 60.5 17.0 1975 93.3 32.6 1976 57.8 23.4 1977 35.3 18.7 1978 58.7 30.0 1979 85.7 49.6 1980 64.3 43.9 1981 36.6 28.0 1982 44.6 37.0 1983 34.6 30.0 1984 18.6 17.0 1985 48.9 48.0 * May 1986 retail prices index. The unescalated figures for 1981–85 are those as shown in the published accounts adjusted in respect of the application of statement of standard accounting practice No. 21.
Capital investment has been taken to mean fixed assets for example, plant, machinery, building and so on.
The Government's only direct contribution during the period in question were regional development grants. These amounted in total to £10 million. An annual breakdown is not readily available.
§ Mr. Nellistasked the Secretary of State for Trade and Industry what has been the net asset value, in 1986 prices, for each year since 1970, of Rolls-Royce.
§ Mr. PattieFollowing is the information.
227W
1986 prices* Actual Adjusted for revaluation of land and buildings Net of adjustment £ million £ million £ million £ million 1981 579 584 141 443 1982 433 497 138 359 1983 194 303 135 168 1984 212 325 132 193 1985 261 403 147 256 * May 1986 retail prices index. (i) The net asset figures have been adjusted for the revaluation of land and buildings which took place in 1980 and 1985.
(ii) The substantial reduction in net assets 1971 to 1973 is largely accounted for by the balance sheet adjustments which followed settlement with the receiver.