Archive : Stokes denial of government aid

Talks of Government aid for British Leyland was “foolish chatter”, Lord Stokes, the chairman, said yesterday.

“We have neither sought nor been offered any monies from the Government other than normal regional grants. Conjecture of this sort is entirely hypothetical and, frankly, is just foolish chatter which unfortunately tends to create unnecessary anxieties among our work force.”

One Sunday newspaper report suggested that Whitehall was drawing up plans to inject up to £100m in the company to finance future investment. Lord Stokes said there was no difference of opinion between himself, his directors or the corporation’s top executives on the question of government loans or on the broad question of nationalization.

Keith Adams

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