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23.
Mr. Kimball
asked the Secretary of State for Industry in view of the creation of 300 jobs in South Wales in the manufacture of stainless steel parts for motor cars by the British Steel Corporation and Grundy Limited, if he will give an assurance that no public money will be used to subsidise this venture in view of the redundancy and over-capacity in other parts of this industry especially in Lincolnshire.
Mr. Meacher
No. We are anxious to encourage sound employment-creating projects in Ebbw Vale to replace those to be lost in steel, and have said that full use will be made of all available incentives. If the company applies for assistance its application will receive sympathetic consideration in the light of this.
| End of accounting period | Average number of employees in the United Kingdom | Net assets* | ||||||||
| £ million | ||||||||||
| Ford Motor Company | … | … | … | … | 31st December 1973 | … | 67,000 | 276 | ||
| Esso Petroleum Company | … | … | … | 31st December 1973 | … | 10,026 | 434 | |||
| Gallaher | … | … | … | … | … | … | 31st December 1973 | … | 18,398 | 157 |
| Consolidated Tin Smelters | … | … | … | 31st December 1973 | … | 1,314 | 22 | |||
| Philips Electronic and Associated Industries | … | 31st December 1973 | … | 61,339 | 235 | |||||
| Rank Xerox | … | … | … | … | … | 31st October 1973 | … | 10,762 | 22 | |
| Chrysler United Kingdom | … | … | … | 31st December 1973 | … | 30,883 | 53 | |||
| IBM United Kingdom Holdings | … | … | 31st December 1973 | … | 12,428 | 133 | ||||
| Vauxhall Motors | … | … | … | … | … | 31st December 1973 | … | 34,365 | 86 | |
| Massey-Ferguson Holdings | … | … | … | 31st October 1973 | … | 18,907 | 57 | |||
| Standard Telephones and Cables | … | … | 31st December 1973 | … | 39,067 | 111 | ||||
| Mobil Oil Company | … | … | … | … | 31st December 1973 | … | 2,405 | 81 | ||
| International Nickel | … | … | … | … | 31st December 1973 | … | 4,258 | 42 | ||
| Mars | … | … | … | … | … | … | 31st December 1973 | … | 9,127 | 28 |
| Alcan Aluminium (UK) | … | … | … | … | 31st December 1973 | … | 9,469 | 110 | ||
| Conoco | … | … | … | … | … | … | 31st December 1973 | … | 1,724 | 59 |
| Hoover | … | … | … | … | … | … | 31st December 1973 | … | 14,860 | 69 |
| Michelin Tyre Company | … | … | … | … | 31st December 1973 | … | 17,274 | 89 | ||
| Kodak | … | … | … | … | … | … | 28th October 1973 | … | 12,768 | 73 |
| H. J. Heinz Company | … | … | … | … | 27th April 1974 | … | 10,550 | 51 | ||
| * Fixed and intangible assets at book values net of accumulated depreciation, plus current assets and investments less current liabilities including bank overdrafts and loans and future tax. | ||||||||||