asked the Secretary of State for Industry what were the objects of the Accelerated Projects Scheme for capital investment in industry; and for what period it was in operation.

The Accelerated Projects Scheme was introduced by my right hon. Friend the Chancellor of the Exchequer in his Budget speech in April 1975. It was closed to applications on 31st July this year. The purpose of the scheme was counter-cyclical—that is, to induce companies to bring forward investment projects which would not otherwise take place in the recession. Work on the approved projects must start by 30th November of this year.

asked the Secretary of State for Industry what has been the cost of the Accelerated Projects Scheme for capital investment in industry.

Up to 26th October 1976, 106 offers of assistance totalling about £80 million had been made under this scheme, to bring forward capital investment totalling £588 million.