Short Brothers plc

Part of the debate – in the House of Commons at 3:31 pm on 7th June 1989.

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Photo of Mr Tom King Mr Tom King The Secretary of State for Northern Ireland 3:31 pm, 7th June 1989

I am very grateful to my hon. Friend, who used the word "miraculous." If I had been asked that question two years ago, I would have used a similar word, because we faced a daunting task. The sale is important to progress and the atmosphere and attitude in Northern Ireland. It will be seen that companies can succeed by their own efforts and will do much to kill the image that exists in some parts of the United Kingdom that Northern Ireland can exist only on subsidy and assistance. My hon. Friend knows from his experience that there are a number of highly successful, profitable and hard-working firms in Northern Ireland. I look to see Harland and Wolff and Shorts join those companies.

The cost involved is not £780 million but £750 million. Bombardier is paying £30 million for the share capital, and I am satisfied that it has the resources to do so.