Series
Catalogue reference: BD 120
BD 120
The records concern the Welsh Office's role with the Welsh Development Agency and the latters investment in the Parrot Corporation. The Parrot Corporation was set up in 1983 as the only British based fully integrated manufacturer of floppy...
The records concern the Welsh Office's role with the Welsh Development Agency and the latters investment in the Parrot Corporation.
The Parrot Corporation was set up in 1983 as the only British based fully integrated manufacturer of floppy diskettes for personal computers, a start-up venture funded partly by the Welsh Development Agency (WDA). The company manufactured 8", 5 ¼" and 3 ½" floppy diskettes and provided duplication services and technical support to technology transfer companies. An American investor set up the company and the WDA contributed £1.5 million with a further £2.5 million in the form of a loan from the European Coal and Steel Community (ECSC), an organisation serving to unify the industry of Western Europe. The ECSC would provide the loan on condition of a loan guarantee; this guarantee was provided by the Northern Trust Bank, Chicago in the United States. Additional investors were arranged by the WDA for the purpose of purchasing equipment and to provide working capital for the company. The company suffered financial difficulties in 1985. A company investigation uncovered a suspected fraud, culminating in the dismissal of the company director.
A British political controversy ensued, with its focus upon the fraud and the WDA's investment practices. The company director was subsequently extradited to Britain to face a criminal trial, but was acquitted of all charges. The company became bankrupt due to financial and market pressures and its assets were later sold for £1.25 million.
The records are arranged chronologically in file prefix order.
in 2014 Welsh Government
The Economic and Regional Policy Group was created in 1983 and comprised three divisions.
Division 1 covered briefings for debates, macro economic subjects, Parliamentary Questions, deputations, Enterprise Zones, coordination of regional economic policy, dispersal of government services, employment and training policy, liaison with the Manpower Services Commission, local education authorities and Careers Service in Wales.
Division 2 was responsible for the operation of the European Regional Development Fund and general monitoring of European Community Affairs (except Agriculture). It also covered: steel; energy policy and liaison with these industries; Severn Barrage; Post Office, British Telecom and other telecommunications developments; consumer affairs and appointments to the Nationalised Industry Consultative Councils and the Welsh Consumer Council.
Division 3 managed the urban programme, Enterprise Trusts, Urban Development Grant, Mid-Wales Development (Development Board for Rural Wales), Wales Tourist Board; Countryside and nature conservation, national parks, commons, camping and caravanning.
The Economic and Regional Policy Group was re-titled the Economic Development Group in 1995. In 1999, under the National Assembly for Wales, it was retitled again as the Economic Development Department. In 2006 a further re-branding took place and it was re-titled the Department for Economy and Transport. In 2011 the function was governed by Business, Economy, Transport and Science under the Welsh Government.
Welsh Office: Economic and Regional Policy Group, Economic and Regional Policy Divisions 1, 2 and 3: Records relating to the Parrot Corporation
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