What if BAe P106 and Saab Gripen had been merged into one with Saudi money?

Peter Snape, a Labour MP 1974-2001, raised questions about “co-operative development on Jaguar replacement with Saudi Arabia” and “talk of the P106 development with Sweden and India” in a Parliament session in June 1981.

Now here is an interesting what-if exercise – what if the UK had decided to co-develop a single-engine light fighter with Sweden, with Saudi money?

http://hansard.millbanksystems.com/commons/1981/jun/23/royal-air-force#S6CV0007P0_19810623_HOC_176

Has the Minister seen the reports on co-operative development on Jaguar replacement with Saudi Arabia? Is there any truth in them? If so, what future is there for European development? Over the past few weeks there has been talk of the P106 development with Sweden and India. There have been newspaper reports about both matters. Can the Minister clear up the understandable confusion on both sides of the House about the future of the project?