HL Deb 29 January 1975 vol 356 cc559-60WA
Lord O'HAGAN

asked Her Majesty's Government:

Why the rate of their applications for loans under Article 56 paragraph 2(a) of the ECSC Treaty has diminished sixfold since March 1974.

Lord BESWICK

The EEC Commission have given the following figures in the European Parliament:—

£ million
1973–74 (15 months to March 1974) 35
1974 (from March) 5.5

These figures cover four applications in the first period, and three in the second. However the figure for 1973–74 includes one loan of £10 million the final application for which following discussions during both periods, was made in April 1974, and another loan for which a supplementary application of £7.5 million was made in December 1974. The use of a different, although equally valid, definition of "application" to that used by the Commission would result in the following figures:—

£ million
1973–74 (15 months to March 1974) 25
1974 (from March) 23

No applications were made in 1972.

House adjourned at five minutes before seven o'clock.