§ Mr. Nicholas WintertonTo ask the President of the Board of Trade if he will make a statement clarifying the Government's strategy for industry; and what assessment he has made of the implications for that strategy of the sale of Rover Group to the German Company BMW.
§ Mr. Heseltine[holding answer 4 February 1994]: The Government's strategy is to help British industry win. The sale to BMW by British Aerospace of its stake in Rover is consistent with that strategy as Rover, while remaining a separate entity with its own manufacturing design and development facilities in the United Kingdom, will also gain increased export opportunities and better access to much-needed funds for further capital reinvestment. BAe will be able to pursue plans for the turbo-prop and regional jet businesses in Prestwick and Manchester.
§ Mr. Nicholas WintertonTo ask the President of the Board of Trade what information he has concerning the percentage change in sales in each of the last three years for which figures are available for(a) Rover Group and (b) BMW (i) in the United Kingdom, (ii) in Europe and (iii) in Germany.
§ Mr. Heseltine[holding answer 4 February 1994]: The information requested is set out in the table.
Rover Group Percentage change in sales United Kingdom Germany EC 1990 — +16.3 — 1991 -18.5 +59.0 -9.3 1992 -6.0 +26.0 -4.0 1993 +10.5 — +8.9
BMW Percentage change in sales United Kingdom Germany EC 1990 — -0.03 -2.3 1991 -10.0 +16.70 +12.4 1992 +5.0 +9.90 +10.7 1993 +0.6 — —
§ Mr. Nicholas WintertonTo ask the President of the Board of Trade what assessment he has made of the future impact upon the attraction of investment from Japan of the sale of Rover Group to BMW.
§ Mr. Heseltine[holding answer 4 February 1994]: The long-held welcome which this Government and country have given to investment from Japan is as strong as ever. The advantages we offer have led to our securing 40 per cent. of all Japanese investment in the European Community: these remain in place. I am sure that Japanese industry will continue to recognise these benefits and the strength of our relationship and will make its investment decisions accordingly.