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Workers' Co-Operatives

Volume 885: debated on Monday 3 February 1975

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22.

asked the Secretary of State for Industry how he proposes to monitor the financial performance and how he proposes to provide for accountability to Parliament for expenditure of public funds by his Department in grants to workers' co-operatives.

As with all offers of assistance under the Industry Act, assistance to workers' co-operatives will be monitored in a manner commensurate with the amount of public money involved. The normal arrangements governing accountability to Parliament will apply.

37.

asked the Secretary of State for Industry what profit he expects to be made in the years 1975–76 and 1976–77 by the workers' co-operatives at Kirkby and Meriden; and whether these co-operatives have entered into planning agreements with the Department of Industry.

Both of these important innovations in industrial organisation expect to become profitable after initial losses. I cannot, however, disclose their individual financial forecasts. No arrangements for information beyond the normal procedures for monitoring Government investment have been made.