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Bankers (Departmental Secondment)

Volume 13: debated on Monday 23 November 1981

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asked the Secretary of State for Industry if any employees of merchant or clearing banks have been seconded to work in his Department; if so, whether such persons have been paid from public funds; and if such persons have had any responsibility, direct or indirect, for dealing with the disbursement of public funds.

Since 1975, 16 employees of merchant and clearing banks have been seconded, normally for periods of about three years, to the Department of Industry. They have been paid directly by their parent banks, the Department of Industry reimbursing all or most of the salary costs involved. The majority of secondees have been concerned with the appraisal and negotiation of applications for selective financial assistance under the Industry Act 1972. Three bankers are currently employed on this work.