Skip to main content

European Community Loans And Grants

Volume 890: debated on Monday 14 April 1975

The text on this page has been created from Hansard archive content, it may contain typographical errors.

asked the Chancellor of the Exchequer what are the latest figures available for the financial benefits to the North-West assisted areas from EEC membership from the European Agricultural Guidance and Guarantee Fund, European Social Fund and European Investment Bank; and what percentage these financial amounts represent of the total benefit to the United Kingdom in each category.

Information on the financial benefits from the European Agricultural Guidance and Guarantee Fund and the European Social Fund to the North-West assisted areas is not separately available. During 1973 and 1974 the United Kingdom received about £175 million from the EAGGF for market regulation and restructuring under the common agricultural policy. Receipts from the European Social Fund during the same period amounted to about £16 million. In addition, there are commitments to pay the United Kingdom about £12 million from the guidance section of EAGGF, and the United Kingdom has also been allocated further sums from the European Social Fund.The North-West assisted areas have not so far received any loans direct from the European Investment Bank. However, since 1st January 1973 two projects have been financed from loans provided by the bank to the Industrial and Commercial Finance Corporation for on-lending to small and medium-sized firms in the assisted areas. They are a £50,000 loan for the manufacture of integrated circuits at Workington, Cumberland, and a £220,000 loan for the manufacture of sugar confectionery at Liverpool. Loans made to date by the bank to the United Kingdom total £136 million.