HC Deb 07 November 1991 vol 198 cc219-21W
Mr. Sheerman

To ask the Secretary of State for the Home Department what is the age profile of the prison population for each major ethnic group.

Mrs. Rumbold

The latest readily available information is given in the table.

redundancies and early retirements; and by how much these changes are expected to reduce the total annual wages and salary bill.

Mr. Peter Lloyd

The IBA carried out a reorganisation programme during 1990 and reduced its staff by about 170. When NTL was sold on 24 October, its overall staffing complement, including contract staff, was 779, the same as it had been on 1 January 1991, when the company was vested in the Crown. In that period, 42 staff, including contract staff, left and the same number joined. NTL has assumed the IBA's liabilities for retirement and death benefits for those employees who transferred to NTL from the IBA. Information on the costs is not readily available in the form requested.

Mr. Corbett

To ask the Secretary of State for the Home Department for what price it has been agreed, subject to contract, to sell National Transcommunications Ltd. to Mercury Asset Management; how many other bids were received; and what assurances he has sought or been given about plans to float off the company.

Mr. Peter Lloyd

The sale of National Transcommunications Ltd., which was completed on 24 October 1991, raised immediate proceeds of £70 million, with the possibility of further proceeds of up to £20 million under specified circumstances in the event of a successful flotation of the company after 1993. The sale and purchase agreement also includes comprehensive clawback provisions intended to ensure that the Government receive a share of unexpectedly large profits made from sales of the company's property and intellectual property. National Transcommunications Ltd. was purchased by Mercury Asset Management plc on behalf of its fund management clients. In its bid, Mercury Asset Management stated its intention to prepare the company for flotation when it has sufficient track record in the private sector.

Following the sale launch in May this year, there were over 50 serious expressions of interest in the company, from a wide range of backgrounds, including manufacturers, banks, broadcasters, utilities and telecommunications companies. We shortlisted three indicative bidders who then had access to detailed information about National Transcommunications Ltd.'s business. Two bidders, GEC and MAM, continued their preparations for bidding up until the final deadline. MAM's bid was made in the knowledge of that competition and we were entirely satisfied with it.

Mr. Corbett

To ask the Secretary of State for the Home Department what amounts of money over what periods have been paid to Price Waterhouse and Deloittes in connection with the sale and restructuring of the former engineering division of the Independent Broadcasting Authority; and if he will detail by name and amount payments made to any other outside consultants with whom contracts were placed during this process.

Mr. Peter Lloyd

The Home Office placed contracts with the following outside consultants during the sale of NTL and preparations for the company to be sold:

  • Price Waterhouse
  • Norton Rose
  • Ernst and Young
  • Debenham, Tewson and Chinnocks
  • Mercer Fraser
  • Charles Barker

My right hon. Friend will report to the House on the final cost of the sale as soon as possible, but information about individual contracts and amounts paid is commercially confidential.