Leyland losing £IM a day
NZPA London The giant car manufacturer, British Leyland, is losing money at the rate of about one million pounds (52.39 million) a day, the “New Standard" newspaper has reported. A front-page report said that B.L. was about to announce a loss of around 400 million pounds ($956 million) for'l9Bo. This was almost three timesTts much as it lost in 1979, and more than 10 times the 1978 loss of $BB million. The report said it was one of the biggest deficits ever made by a State industry. . According to the “New Standard,” the announcement was likely to lead to a political storm, coming only weeks after the Government’s decision to give British Leyland $2366 million in aid over the next two years. Many Conservative members of Parliament felt that the Government had already poured too much money into 8.L., with little sign’ of return. The official announcement of the loss is expected in two to three weeks.
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Press, 4 March 1981, Page 9
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162Leyland losing £IM a day Press, 4 March 1981, Page 9
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