MOTOR SPORTS DEVELOPMENTS

Early day motion 1295, tabled 26 May 2004 by Brian White (Labour). Signed by 31 members.

That this House notes that small businesses, such as Motor Sports Developments Ltd based in Milton Keynes, have for many years meant that the UK has led the world in designing, developing, preparing, operating and promoting motor sports vehicles for international motor sport, notably the World Rally Championship; further notes that these companies enter into long-term contracts to develop the skills and experience to operate a world rally programme on behalf of a major car manufacturer; is therefore outraged that due to a unilateral decision made by the Hyundai Motor Company in Korea to use its economic power and not to make outstanding payments due to Motor Sports Developments Ltd, the company faces possible closure with the loss of 150 highly skilled employees; condemns Hyundai for acting in bad faith; believes that such a company is not fit to sponsor Euro 2004; and calls on the Government to ensure that where UK small businesses find themselves in this position, they are supported in their legal action against large foreign multi-nationals.

Signatures by party: Labour 22, Liberal Democrat 5, Labour/Co-operative 2, Conservative 1, Plaid Cymru 1.