HC Deb 24 May 1993 vol 225 cc452-3W
Mr. Fatchett

To ask the President of the Board of Trade (1) what was the value of financial support to Rolls Royce plc from his Department in the last available financial year; under what programmes that support was provided; and if he will make a statement;

(2) what was the value of aero engine launch aid receipts from Rolls Royce plc in (a) the last financial year, (b) in total since 1979 and (c) in total since 1972; and if he will make a statement.

Mr. Sainsbury

[holding answer 18 May 1993]: My Department provided a total of £6,287,529 in financial support for Rolls Royce plc in the year ending 31 March 1993 under a number of schemes.

The value of aeroengine launch aid receipts received by the Department of Trade and Industry from Rolls Royce plc are as follows:

  1. (a) £32.9 million was received in the last financial year ending 31 March 1993;
  2. (b) £209.4 million has been received since 1979. Launch aid payments by the Government to Rolls Royce over the same period were £454.7 million;
  3. (c) £239.4 million has been received since 1972. Launch aid payments to Rolls Royce over the same period were £580.9 million.