National Enterprise Board

Part of Oral Answers to Questions — Industry – in the House of Commons at 12:00 am on 5th April 1976.

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Photo of Mr Eric Varley Mr Eric Varley , Chesterfield 12:00 am, 5th April 1976

I am very satisfied with the progress made by the Board. It has now sole ownership of Rolls-Royce (1971) and Herbert; it has a controlling interest in British Leyland and Ferranti, and three other minority shareholdings. It is arranging to provide finance on commercial terms to several companies for building stocks of machine tools; it has joined with other companies in bidding for overseas construction contracts that should generate substantial British exports; and it has a number of other projects at an advanced stage but which are still commercially confidential.