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Samsung

Volume 281: debated on Tuesday 16 July 1996

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To ask the President of the Board of Trade what public funds were made available to Samsung for its investment in the north-east; and if he will make a statement. [37224]

My Department offered regional selective assistance grant and loans totalling £58 million against a proposed investment of £450 million by the company. The assistance will be paid over the next 10 years as the various elements of the Samsung investment proceed and jobs are created. In addition a number of other agencies are providing support for infrastructure development, job creation and training. Some of this support will not be in the form of grant aid to Samsung but will fall within the current and future work programmes of the agencies concerned.