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08Oct92 UK: LOCAL GOVERNMENT MINISTER DEFENDS COST OF TARMAC'S TAKEOVER OF PSA PROJECTS.

Local government minister John Redwood has defended the cost of the Tarmac deal.He told Construction News at the Conservative Party Conference in Brighton: 'Of course it was value for money. It was the market price and was the best deal we were offered.'He also dismissed as 'misleading' talk of around 900 job losses.Tarmac has said it will take 925 out of the 1,800 employed. They might take more'Mr Redwood said the Government would be pressing ahead with the sale of the rest of the PSA as soon as possible.The offer documents should be sent out to interested firms in December.

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