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Cotton Industry (Re-Equipment Grants)

Volume 644: debated on Thursday 20 July 1961

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42.

asked the President of the Board of Trade what were the opening and closing dates for receipt of applications for re-equipment grants under the terms of the Cotton Industry Act, 1959; and what will be the cost to the Treasury of valid applications received to date.

The Cotton Industry Act provides that applications must be submitted not later than 8th July, 1962, and may relate to expenditure incurred since 24th April, 1959. Applications from the spinning, doubling and weaving sections were invited in March, 1960, and applications from the finishing sections were invited this month. The likely cost to the Treasury of applications so far is about £6·7 million.