§ Mr. Gordon BrownTo ask the Secretary of State for Trade and Industry if he will list for each year since 1979(a) the profits of British Technology Group and (b) the returns to the Exchequer from (i) profits, (ii) sales and (iii) levies.
§ Mr. Lilley[holding answer 25 January 1991]: The profits before tax and the returns to the Exchequer from the National Enterprise Board and the National Research Development Corporation are shown in the tables.
National research development corporation Profits before tax and amounts paid to Her Majesty's Government £ millions Profit before tax Dividends Tax paid 1979 12.92 — 3.55 1980 11.85 2.00 5.25 1981 8.42 — 1.71 1982 10.39 — 4.45 1983 2.33 — 3.98 1984 5.18 — 0.93 1985 7.82 2.00 2.16 1986 7.54 2.00 4.80 1987 3.40 2.89 0.89 1988 6.22 1.00 0.62 1989 7.53 7.92 1.70 1990 9.51 2.61 2.27 Note: The 1989 dividend figure includes a special payment of £6 million made under direction from the Secretary of State.
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National Research Development Corporation Value of shares and loans in private companies held at 31 March 1990 £ thousands Cost on acquisition Current book value Company Shares Loans Total Shares Loans Total Agricultural Genetic Eng. Ltd. 3,755 0 3,755 3,755 0 3,755 Polysystems Ltd. 0 656 656 0 0 0 EFI Materials Ltd. 285 0 285 0 0 0 York Ltd. 293 0 293 293 0 293 Deductive Systems Ltd. 124 0 124 0 0 0 Ferranti Creditphone Ltd. 1,341 0 1,341 1,341 0 1,341 COTAG International Ltd. 50 0 50 0 0 0 XTEC Ltd. 140 0 140 0 0 0 Lynx Group Ltd. 4 0 4 4 0 4 International Business Software Ltd. 201 194 395 201 194 395 Laser Monitoring Systems Ltd. 21 0 21 11 0 11 Sindex Speech Technology Ltd. 75 5 80 0 0 0 Prosys Ltd. 500 0 500 500 0 500 World Press Centre (London) Ltd. 125 0 125 125 0 125 Time & Data Systems Ltd. 40 0 40 40 0 40 Defense Technology Enterprises Ltd. 102 224 326 2 0 2 PERCOM Ltd. 100 0 100 100 0 100 Tangram CAE Ltd. 87 0 87 0 0 0 Straflo Ltd. 14 0 14 0 0 0 Thermal Conversion UK Ltd. 378 115 493 0 0 0 Mupor Ltd. 10 0 10 0 0 0 Biomedical Sensors Ltd. 0 225 225 0 125 125 Torotrak Holdings Ltd. 380 2,177 2,557 127 1,049 1,176 University of Warwick 0 50 50 0 50 50 Hovercraft Development Ltd. 153 0 153 153 0 153 Future Group Ltd. 600 0 600 0 0 0
National Enterprise Board Profits before Tax and Amounts Paid to HMG £ millions Profit before Tax Interest and Dividends to HMG Tax Paid Net (payments to) Receipts from HMG 1979 (9.76) 30.00 0.83 253.21 1980 1.52 12.13 0.47 1(10.51) 1981 (59.09) 2.85 2.54 1(1,263.58) 1982 3.89 0.32 0.08 3.03 1983 0.23 0.17 0.43 32.83 1985 51.97 0.18 0.40 (166.45) 1986 5.18 0.00 5.76 (30.00) 1987 4.64 0.00 0.39 (34.04) 1988 5.68 26.50 2.82 0.00 1989 0.59 22.00 1.26 0.00 1990 1.23 0.00 0.06 0.00 1 Excludes £17.4 million written off under sec. 3(i) Industry Act 1981. 2 These items are dividends paid on the Board's PDC. Notes:
1. The financial year end for the Board was changed from the 31 December to the 31 March in 1985. The figures for 1985 are therefore for a 15-month period. All other figures are for 12-month periods ending on 31 December until 1983 and on 31 March thereafter.
2. The last column Titled "Net (Payments to) receipts from HMG" are the net movements on Public Divident Capital (PDC) and Loans from the National Loans Fund (NLF). By 31 March 1987 the NEB had repaid all but £4,775—50 of its "PDC" and "NLF" funding.
§ Mr. Gordon BrownTo ask the Secretary of State for Trade and Industry if he will list all shares held by British Technology Group in private companies and (a) their original value when acquired and(b) their current value.
§ Mr. Lilley[holding answer 25 January 1991]: The value of shares held and loans made by the National Development Corporation in private companies at 31 March 1990 are shown in the table. The National Enterprise Board's one live investment is 100 per cent. of the shares of Oakwood Loan Finance Ltd. which cost 1.5 million and are currently held at that value.
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Cost on acquisition Current book value Company Shares Loans Total Shares Loans Total FBM Carbon Ltd. 55 0 55 0 0 0 INOTEC Ltd. 26 0 26 0 0 0 8,859 3,645 12,505 6,651 1,418 8,069