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Grants To Industry

Volume 176: debated on Wednesday 18 July 1990

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To ask the Secretary of State for Trade and Industry what was the total cost of grants in aid to industry in the last financial year.

The whole of my Department's programme expenditure is aimed at encouraging wealth creation by British industry and commerce, partly through the provision of grants and services to the private sector.Grants paid direct to private sector firms in 1989–90 totalled some £520 millions net of relevant receipts. They included regional development grants, regional enterprise grants, selective assistance, support for the aerospace and shipbuilding industries and support for research and development.In addition, my Department spent some £105 millions on export promotion and consultancy initiatives, which provide services direct to the private sector.