§ Lord Melchett
asked Her Majesty's Government:
- (i) How much public money at 1981 prices has been (a) given, (b) loaned and (c) paid in return for equity or other stock to the De Lorean project in West Belfast in each year since the project was first supported by them;
- (ii) what is the value at 1981 prices of all the other assistance, whether in kind or by way of grants,
351 loans etc., provided from public funds to the De Lorean project in these years, including standard grants available to new industrial projects in Northern Ireland, help with site acquisition, associated public services etc.;
- (iii) how many additional jobs (in terms of full-time jobs per year) have been created (a) at the De Lorean factory itself and (b) in other associated industries and suppliers in the United Kingdom in each year since the project started.
The Minister of State, Northern Ireland Office (The Earl of Cowrie)
(i) The Northern Ireland Development Agency has subscribed a total of £17.75 million for redeemable participating preference shares in De Lorean Motor Cars Limited as follows:
(ii) The following grants and loans have been provided:
Cash Prices £ million Constant 1981 Prices £ million 1978 6.21 9.32 1979 7.10 9.39 1980 4.44 4.97
Grants: Cash Prices £ million Constant 1981 Prices £ million 1979 3.95 5.23 1980 10.86 12.16 1981 3.88 3.88 Loans: 1979 7.77 10.28 1980 22.70 25.42 1981 0 0
A loan guarantee in respect of bank borrowings of up to £10 million has also been provided. This guarantee expires on 31st May 1982 when it will be replaced by a guarantee in respect of borrowings of up to £5 million which will run to 31st August 1982.
(iii) Total employment at De Lorean Motor Cars Limited has built up as follows:
31st December 1978 25 31st December 1979 212 31st December 1980 631 31st December 1981 2,636
I regret that it is not possible to estimate to an acceptable degree of accuracy the number of employees of other companies whose jobs depend on the De Lorean enterprise.