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Workers' Co-Operatives

Volume 888: debated on Monday 10 March 1975

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23.

asked the Secretary of State for Industry if he will list the amounts of public funds so far advanced to workers' co-operatives; and what further amounts are currently under negotiation.

As already announced, the first instalment of the grant to the Kirkby workers' co-operative was paid on 15th January. A first payment of assistance to the Meriden workers' co-operative was made on 6th March. A small interest relief grant is being paid to a workers' cooperative in the Northern Region under an offer made in October 1973. Two other applications for assistance in forming cooperatives and one application for assistance for an existing co-operative are under consideration.

39.

asked the Secretary of State for Industry what guidelines his Department uses for determining financial assistance to workers' co-operatives.

41.

asked the Secretary of State for Industry whether he will publish the criteria used by his Department to determine the assistance offered to workers' co-operatives.

Guidelines for assistance under Section 7 of the Industry Act 1972 were announced on 2nd October 1972, and notified to the House on 1st November 1972. The considerations governing Section 8 cases are wider and both are covered by the Act itself. These apply to all applications for assistance under these sections of the Industry Act 1972 irrespective of the type of company involved. The final responsibility lies with Ministers.