§ Mr. Tony BanksTo ask the Secretary of State for the Environment what has been the total contribution from public funds to the Canary wharf office complex from(a) grants, (b) subsidies, and (c) write-offs. [41722]
§ Sir Paul BeresfordNo grants or subsidies have been provided by the London Docklands development corporation. As a result of Olympia and York—the developers of Canary wharf—going into administration, the LDDC, in common with other creditors, received 15p in the pound on its debts outstanding as at spring 1992 with Olympia and York contractors and Olympia and York Canary Wharf Ltd. The LDDC, therefore, wrote off 85 per cent. of its debt which amounted to £608,167.