§ Mr. Grylls
asked the Secretary of State for Industry what was the original cost to the Government of the acquisition of shares in Alfred Herbert Ltd.; and have any further public funds been committed to the company.
§ Mr. Kaufman
The cost to the Government of restructuring Alfred Herbert Limited, in addition to the injection of some £26.2 million into Herbert Limited, was £16,348.50, including payment of VAT, which represents the Department's share of professional fees. No further public funds have been committed to the company other than through the National Enterprise Board's facility to support building of machine tools for stock on commercial terms as announced in my reply on 2nd March to my hon. Friend the Member for Aldridge-Brownhills (Mr. Edge).