§ 72 Mr. NEWBOULDasked the President of the Board of Trade (1) the names of the firms or individuals to whom loans have been granted under the provisions of the Trade Facilities Act, and the nature of the industries to which the loans are to be applied;
(2) How many applications have been made for loans under the provisions of the Trade Facilities Act; how many have been granted, and for what amounts?
Mr. YOUNGIn all, over 500 applications have been received by the Advisory Committee appointed under the Trade Facilities Act. Guarantees have been given in three cases totalling over £2,000,000, and varying in amount. The quarterly statement required by the Act will show full details of these. The largest is for about £1,500,000, and the smallest for £100,000. Orders for concrete, iron, steel and electric goods will be placed in Scotland, the North of England and the Midlands, and in addition direct labour will be required in Enfield, Tottenham and the Lee Valley generally and also at the London Docks. In addition to the three cases in respect of which the Committee have recommended guarantees, the Committee have also informed applicants that they are prepared to recommend guarantees subject to the completion of certain formalities in ten cases, totalling over £14,000,000, and varying in amounts from £4,700, to £6,000,000. In addition, as regards five applications, totalling a further sum of £10,000,000, the Committee have set out the terms on which they would be prepared to recommend a guarantee. Applicants are considering these terms. The amounts in these cases vary from £50,000 to £6,000,000.