HC Deb 25 February 1987 vol 111 cc288-9W
45. Mr. Hickmet

asked the Secretary of State for Trade and Industry if he will make a statement about the future of Rolls-Royce.

Mr. Pattie

Subject to market conditions, the Government intend to return Rolls-Royce to the private sector in April or May 1987.

Mr. Nellist

asked the Secretary of State for Trade and Industry when he last met senior management of Rolls-Royce to discuss the proposed privatisation of the company.

Mr. Pattie

I am in frequent touch with the senior management of Rolls-Royce as the preparations for privatisation proceed.

Mr. Milian

asked the Secretary of State for Trade and Industry if he will give details of the years since 1971 in which loans were made to Rolls-Royce Limited, the years in which the loans were repaid and the interest received by the Government in the relevant years.

Mr. Pattie

[pursuant to his answer, 24 February 1987]: Following is the information:

Fiscal year Loan advanced £ million Repaid

£ million

 Interest

£ million
1973–74 162.3 27 —
1974–75 6.0 5.4
1975–76 30.0 5.9
1976–77 20.0 9.3
1977–78 3.0 11.1
1978–79 3.0 25.3 10.1
1979–80 6.0 8.3
1980–81 30.0 5.6
1981–82 26.0 2.9
1 Includes a £27 million non-interest bearing loan advanced on 23 July 1973 and repaid in full on 23 October 1973 and an additional £10 million originally paid by Her Majesty's Government in 1973–74 as part of a loan to the Company but later converted to equity.