§ Mr. GrocottTo ask the President of the Board of Trade if he will list the privatisations which his Department has promoted since 1979 indicating, in each case, the date of the sale, the proceeds of the sale, and the estimated current value of the company.
§ Mr. HeseltineThe information requested on proceeds from privatisations promoted by my Department and the former Department of Energy since 1979 is given in the table. The current market value of companies is not held centrally by my Department.
Department in helping to attract Samsung's recent investment to Stockton-on-Tees.
§ Mr. EggarMy Department took the lead in discussions with Samsung about the company's decision to locate its manufacturing complex in Cleveland. The 993W Department's Invest in Britain Bureau, whose role it is to promote overseas investment in the United Kingdom, has been in close contact with Samsung for several months. Discussions about the regional financial support offer were conducted by the Department's industrial development unit. The support offered was neutral between alternative United Kingdom locations and left the decision for Samsung to make on commercial and operational grounds. Throughout, my Department also maintained contact with other Departments, the Government office for the north-east and a number of local authorities and other agencies including the Northern Development Company and English Partnerships.
I am delighted to note that these efforts, together with the £58 million financial support offered, influenced Samsung's decision to locate in Cleveland, a decision which I am sure will bring significant and lasting benefits to the company, to Cleveland and the north-east region and to the country as a whole.