asked the Secretary of State for Industry what is the total amount of taxpayers' funds distributed under Section 7 of the Industry Act 1972 to the latest convenient date.
In the period from the start of the Industry Act in August 1972 up to 31st March 1978, offers of regional selective assistance totalling £397·6 million were made in respect of 4,257 projects estimated to cost £3,821·7 million and to involve 400,000 jobs. In the same period, payments totalling £210 million were made against these offers.
asked the Secretary of State for Industry how many companies which have received funds under Section 7 of the Industry Act 1972 have subsequently ceased trading.
I regret the information is not readily available.
asked the Secretary of State for Industry what agreements have been entered into with the European Commission to restrict the total amount of selective financial assistance to any one investment project in the regions under Section 7 of the Industry Act 1972.
A copy of the "Principles of Coordination of Regional Aid Systems", R/650/75, is available in the Library of the House. The United Kingdom's system of regional aids is operated within these principles.