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Government Aid

Volume 886: debated on Monday 17 February 1975

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asked the Secretary of State for Industry (1) if he will list the sums paid by him under Section 8 of the Industry Act 1972, the recipients of those sums and the dates of payment;(2) what sums he has received by way of repayment of loans under Section 8 of the Industry Act 1972 or repayment of principal sums paid to meet a guarantee under this section.

Payments made up to 31st January 1975 under Section 8 of the Industry Act 1972 have been:liabilities he has guaranteed, and the date each liability was incurred.

The following guarantees have been given under Section 8:

Alfred Herbert £2 million, 5th December 1974.
Scientific and Medical and Medical Instruments Ltd., £1·25 million, 13th December 1974.
The House has also approved by affirmative resolution on 18th December 1974 that assistance in the form of a guarantee of up to £50 million may be provided to BLMC. No liability has yet been incurred.

asked the Secretary of State for Industry (1) what is the aggregate of the guarantees now being sought in applications for financial assistance under Section 8 of the Industry Act;(2) what is the aggregate of the sums now being sought in applications for financial assistance under Section 8 of the Industry Act 1972.

Applications are made on the basis that they are confidential. Moreover, in many instances the form and scale of assistance required is not specified, and will only become clear after an appraisal has been made. A reply is, therefore, not possible.