Half Refund Only By Missile-Maker
(N.Z. Press Assn.—Copyright) LONDON, Aug. 26. More than half of the £4,250,000 excess profit which the Ferranti electronics company will pay back to the Aviation Ministry will be provided by the Government, the “Daily Express' 4 writer, Chapman Pincher, says. The firm, which made thi profit on an Aviation Minis try contract for the Blood hound Mark 1 anti-aircraf missile three years ago
would have to find only £2,049,000 from its own resources, he said. The rest would be settled in a paper transaction between the Chancellor of the Exchequer, Mr Reginald Maudling, and the Aviation Minister, Mr Julian Amery. This had been agreed because Ferrantis paid £2,210,000 tax out of the excess profit. Mr Maudling would refund this. ,
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Bibliographic details
Press, Volume CIII, Issue 30531, 28 August 1964, Page 17
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124Half Refund Only By Missile-Maker Press, Volume CIII, Issue 30531, 28 August 1964, Page 17
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