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Employment (Eec Funds)

Volume 889: debated on Monday 24 March 1975

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asked the Chancellor of the Exchequer what information he has regarding the flow of capital specifically designed for job-creating investment from the EEC to Great Britain and from Great Britain to the EEC, respectively, since Great Britain joined that body.

Information on capital flows which can be identified as specifically designed for job creation is available only with respect to loans from the European Investment Bank and the European Coal and Steel Community. Since the United Kingdom joined the EEC in January 1973, the EIB has made loans totalling £136·2 million in the United Kingdom, of which about £129 million had the creation of new jobs as a main objective: lending by the ECSC has included £14·8 million for reabsorbing redundant steelworkers.In addition, much private investment is likely to have had an impact on employment.