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Subsidy

Volume 464: debated on Tuesday 3 May 1949

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53.

asked the President of the Board of Trade what portion of the subsidy offered to the textile industry had been merited up to 31st March, 1949; and whether he is satisfied that full advantage is being taken of the Government's offer.

No payment under the Cotton Spinning (Re-equipment Subsidy) Act, 1948, had been made up to 31st March, 1949. The first claims for subsidy have recently been made and are being examined. It is too early yet to measure the extent to which advantage is being taken of the scheme, but we have recently impressed upon the industry the need for quicker progress in submitting plans for modernisation.