More aid for Leyland
i NZPA London I The huge State-owned ■ motor corporation, British ! Leyland, recently plagued bv | poor productivity, industrial : strife, and financial losses, j is being given another big injection of money, Britain’s I ruling Labour Government ; announced yesterday. The Secretarv for Indtts- : try (Mr Eric Varlev) told ; Parliament that the Governi ment would provide about ■ SB3OM to help the corpora- ■ tion back on to its feet. He said the move had been i recommended by the i National Enterprise Board, a
State-owned holding com- ; pany which owns 95 per cent of Leyland. After the issue of the new capital its share will rise to i 99 per cent. The Government took over most of Leyland after the company ran into financial troubles, and despite bitter ‘ criticism that it is wasting public monev it has continued to support the corporation. The board, although ad- ! mitting that Leyland's performance last year fell short ■of targets “on virtually all counts.” insisted that new plans to revive it were corI rect.
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Press, 8 April 1978, Page 17
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170More aid for Leyland Press, 8 April 1978, Page 17
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