§ Mr. Beaumont-Dark
asked the Secretary of State for Industry if he will make a statement on his discussions with the Nissan Motor Company.
§ Mr. Patrick Jenkin
I met representatives of Nissan on 23 July. They told me that their examination of the United Kingdom project was still not complete, and that it would be a little while before the company could reach a final decision. They regretted that their study was taking a good deal longer than originally expected, but they explained that it had had to take account not only of such matters as local content and regional financial assistance, on both of which a broad measure of agreement had beer reached, but also of fast-changing world economic circumstances which might affect their investment strategy.
I told the Nissan representatives that Her Majesty's Government continued to welcome the prospect of a Nissan project on the basis discussed between us, and that the Government, and public opinion generally, saw it as a potentially constructive development in Anglo-Japanese trade relations. I said that we understood the complexity 403W and importance of the decision for the company, but emphasised nevertheless that we hoped they would be able to reach a favourable conclusion in the near future.