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14. Other receivables and investments

  2008
£m
2007
£m
Other investments
Indirect taxes and amounts recoverable under employee benefit plans 19 13
Other receivables 4 9
  23 22

Other investments mainly comprise the Group’s net investment in GKN Aerospace Services Structures Corp. which is an entity in which the Group has, since 2003, had a 100% share in the equity. This corporation operates under a proxy agreement with the United States Department of Defense developing high technology, classified products for the Joint Strike Fighter. The agreement currently places significant restrictions on the Group’s management and control of the business for the life of the contract so that, in accordance with IAS 27 it has been excluded from the consolidation and treated as an investment. The investment, which is fully provided, is stated at cost less provision for diminution. At 31 December 2008, under the accounting policies of GKN Aerospace Services Structures Corp., the excluded net liabilities were £8 million (2007 – £5 million) and the operating loss for the year then ended was £1 million (2007 – £1 million). No goods or services were provided to GKN Aerospace Services Structures Corp. by the Group during 2008 and 2007. GKN Aerospace Services Structures Corp. supplied goods to the Group amounting to £1 million during 2008 (2007 – nil). Transactions between the Group and GKN Aerospace Services Structures Corp. are priced on an ‘arm’s length’ basis.