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Loan Guarantee Scheme

Volume 29: debated on Thursday 28 October 1982

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asked the Secretary of State for Industry if he will set out in theOfficial Reportthe terms of reference of the accountants Robson Rhodes in their review of the small firms loan guarantee scheme.

The instructions to consultants are substantial and I have therefore placed a copy in the Library of the House.

asked the Secretary of State for Industry if he will publish the detailed instructions given to the accountancy firm he has asked to investigate the loan guarantee scheme ; what led him to seek such an investigation; when he expects to receive the report; if he will publish it; what action he proposes to take whilst awaiting the report; and if he will make a statement.

The detailed instructions to the consultants carrying out the analysis of the first fifty failures under the loan guarantee scheme are substantial. A copy has been placed in the Library of the House.The study, together with my Department's second survey of the borrowers under the scheme, forms part of a wider review of the pilot scheme which I am currently undertaking. The first survey of scheme borrowers was published in June of this year. I expect to receive the report on the study by the end of the year. It is my intention to publish a report on this study, consistent with the need to preserve commercial confidentiality. I will make a statement to the House in due course on the outcome of my review as a whole.