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Selective Financial Assistance

Volume 934: debated on Thursday 30 June 1977

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asked the Secretary of State for Industry how many companies have submitted requests for assistance under the selective financial assistance scheme launched in December 1976; how many were approved and how many rejected; and what is the total level of grants so far authorised under the scheme.

The selective investment scheme has got off to an encouraging start. Since the scheme was announced, my Department has received 133 applications covering the whole spectrum of manufacturing industry. Of these, nine have so far been approved, representing assistance of some £4 million to bring forward projects costing £43 million creating 712 jobs and preserving 3,457 jobs. A further 42 applications have been either withdrawn or rejected.