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

On the question of the funds being made available, part of them will recapitalise the company, part will repay remaining borrowings and moneys already lost and part will meet anticipated losses on existing contracts. Those are real and substantial costs that will occur in the ensuing period. As regards other funds, I made clear in my statement the way in which the performance of Bombardier and the maintenance of the assurances that it has given will be tied in against the interest-free loan to which I referred. On the question of the trade unions, many efforts have been made to keep all the work force and the trade unions informed of the objectives and of progress. Indeed, they were fully informed today.