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Mineral Exploration And Investment Grants Act 1972

Volume 974: debated on Monday 26 November 1979

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asked the Secretary of State for Industry (1) what percentage of the total funds allocated by section 1(2) of the Mineral Exploration and Investment Grants Act 1972 has been committed to date; and whether he is satisfied with the use made and operation of the Act;(2) whether he will introduce a Bill amending the Mineral Exploration and Investment Grants Act 1972 to secure more comprehensive exploration for the minerals covered by the Act.

From 8 July 1971—when the scheme under this Act was announced—to date £3,005,986 has been approved for grant purposes. This represents just over 12 per cent. of the £25 million provided for in section 1(2) of the Act. The Department of Industry is currently reviewing the incentives for mineral exploration in the United Kingdom, including this Act.