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Mr. Nott
asked the Secretary of State for Industry if he will publish the different rates of interest appropriate to each kind of assistance under the Industry Act, which have prevailed since February 1974, and the dates on which they came into force.
Mr. Alan Williams
The different forms and terms of assistance to industry under Section 7 of the Industry Act 1972 are explained in the Department of Industry publication "Incentives for Industry in the Areas for Expansion" (pages 13 and 14). The changes in relevant interest rates are as follows:
INTEREST RATES | |||
Per cent. | |||
… | Broadly Commercial | Concessionary | |
1974— | … | ||
2nd January | … | 13½ | 10 |
1975— | … | ||
21st April | … | 11½ | 8½ |
3rd September | … | 12½ | 9½ |
29th September | … | 13 | 10 |
27th October | … | 13½ | 10½ |
1976— | |||
19th January | … | 13 | 10 |
16th February | … | 12½ | 9½ |
1st March | … | 12 | 9 |
29th March | … | 11½ | 8½ |
10th May | … | 12 | 9 |
7th June | … | 12½ | 9½ |
2nd August | … | 13 | 10 |
27th September | … | 13½ | 10½ |
25th October | … | 14 | 11 |
8th November | … | 14½ | 11½ |
22nd November | … | 15 | 12 |