§ Mr. MeacherTo ask the President of the Board of Trade if he will estimate(a) the volume of United Kingdom trade lost and (b) the number of jobs lost as a result of the collapse of Ferranti/ISC; and if he will list in full the communications between his Department and departments of the United States Government in Ferranti/ISC; and what action by way of reports, surveys or other specific measures his Department has taken as a result of the collapse of Ferranti/ISC.
§ Mr. SainsburyMy Department has made no estimate of the effect on trade or jobs of the ISC fraud, discovered in 1989. In January 1990, reference was made to the fraud at a meeting with the United States Treasury, and a request to DTI for United States officials to visit the United Kingdom was dealt with by the Serious Fraud Office. Since Ferranti International plc went into receivership last December, about 850 jobs have been lost, but over 1,050 have already been saved through disposals and the Department continues to keep in close touch with the receivers, who are seeking to dispose of the remaining businesses.