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Part of the debate – in the House of Commons at 4:22 pm on 23rd May 1995.

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Photo of Richard Caborn Richard Caborn , Sheffield Central 4:22 pm, 23rd May 1995

Does the President of the Board of Trade believe that his decision to reject the Monopolies and Mergers Commission's proposal is sound? Many people are concerned about the basis upon which the decision has been taken—value for money for the Ministry of Defence rather than competition. That is a concern as we downsize the military budget and possibly change the landscape of British industry. Will the right hon. Gentleman assure the House that that decision will not trigger a potential takeover of British Aerospace and leave only one major company to compete in Europe? In rejecting the MMC decision, the President of the Board of Trade has signalled a reorganisation of that part of British industry. Many people are concerned that we shall not receive the value for money that the right hon. Gentleman has said will flow from his decision.