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Development Promotion Firms

Volume 886: debated on Wednesday 19 February 1975

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asked the Secretary of State for Industry if he will list all organisations directly or indirectly responsible to, or financed by, his Department now concerned with industrial development and industrial promotion in Wales; and what was the amount of Government finance allocated to each organisation for its work for each year from 1966 to 1975, respectively.

The Welsh Industrial Estates Corporation (WIEC) has the function of managing land leased to it by the Secretary of State and of developing the land by erecting or extending industrial buildings in accordance with the directions of the Secretary of State. The capital expenditure of the WIEC is borne upon the Department's Vote, and all its receipts, after deduction of those required to be retained for meeting its expenses, are paid over to the Secretary of State. Payments made to the WIEC and net revenue receipts remitted to the Secretary of State in each of the following financial years were as follows:

Year ending 31st MarchCapital expenditureNet revenue receipts
1975 (estimate)5 600,0001,800 000