Skip to main content

Private Companies (Government Finance)

Volume 892: debated on Wednesday 21 May 1975

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

asked the Secretary of State for Industry what is the total sum of public money paid or promised to private companies in the last 12 months; and if he will list the companies and sums involved in as much detail as possible, together with the periods over which the money is payable.

Assistance to private companies by the Department of Industry in the 12 months to 30th April 1975 was as follows:

£ million
Regional Development Grants190·2
Provision of land and buildings19·2
Selective Assistance (S7 of the Industry Act)64·0
Residual expenditure under the Local Employment Acts18·9
R. & D. contracts with industry1·0
Technological and Industrial Sponsorship3·1
Aircraft and Aeroengine R. & D.4·3
RB 211 engine108·6
Other aircraft and aeroengine projects32·2
Space Technology1·0
International Space Programme Selective Assistance to individual industries, firms and undertakings19·6
Refinancing of home shipbuilding131·8
Assistance to Shipbuilding Industry48·7
Other Support Services3·2
Investment Grants91·3
These totals include payments to Rolls-Royce (1971) Ltd. and Govan Ship builders, which are wholly Government-owned. I regret that details of assistance offered but not yet paid are not available.Applications for assistance total well over 10,000 a year, and it is not possible to provide a breakdown by individual companies. It is, however, intended to publish offers of £10,000 or more under Section 7 of the Industry Act, and of £25,000 or more in respect of regional development grants.