§ 45. Mr. HOGGEasked the Financial Secretary to the Treasury whether, under the Trade Facilities Act, 1921, £100,000 cash has been guaranteed to Messrs. Hugh Stevenson and Sons, Limited, and Messrs. Cropper and Company, Limited, for the purpose of completing the erection and equipment of a board mill: whether the sums under the Act to be guaranteed were for reducing unemployment and affording finance reasonably unobtainable without State assistance; whether every board-mill factory is still working short time; and, if so, what is the reason for the advances made to Messrs. Stevenson and Cropper?
Mr. YOUNGThe answer to the first two parts of the question is in the affirmative. I have no special information as regards the third part; and as regards the last part, the recommendations were made by the Advisory Committee appointed under the Trade Facilities Act, and they satisfied themselves that these were oases in which the Government guarantee could properly be given.
§ Mr. HOGGEWhy should my hon. Friend approve of this grant of money for 549 those two firms if it is a fact that the board-mill trade is working only halftime, and that the Trade Facilities Act is to provide money to relieve unemployment?
Mr. YOUNGWe rely in this matter on the judgment of the Advisory Committee, who take into account this among other matters.