HL Deb 15 November 1988 vol 501 cc920-1WA
Lord Hylton

asked Her Majesty's Government:

What is the amount of loans and overdrafts now outstanding at Short Brothers plc and what consideration they have given or will give to writing off further amounts of debt and to selling a substantial minority shareholding to the employees of the company.

The Parliamentary Under-Secretary of State, Northern Ireland Office (Lord Lyell)

The amount of loans and overdrafts outstanding at Short Brothers plc on 28th October 1988 was £336 million. The Government have announced their intention to privatise Short's and any restructuring of the company's balance sheet will be a matter for consideration in discussion with prospective buyers of the company. The Government are ready to consider any suitable proposals which might lead to the acquisition of Short's by private sector interests and have not ruled out employee participation.