§ Mr. Brotherton
asked the Secretary of State for Industry what is his estimate of the total sum outstanding in respect of compensation to the owners of the former shipbuilding and aircraft industries; and how many people are waiting to receive compensation.
§ Mr. Les Huckfield
The compensation payable for unquoted securities in companies nationalised under the Aircraft 311W and Shipbuilding Industries Act 1977 is to be determined by negotiation, with recourse to arbitration if necessary. The total amount payable in compensation will not, therefore, be known until all cases are completed and will be payable mostly to other companies, not individuals.