§ 51. Lord H. CAVENDISH-BENTINCKasked the Prime Minister whether, in view of the fact that, as admitted at the annual meeting of the Iron and Steel Institute, no serious attempt has been made in Britain to keep pace with the class of mill machinery installed by rival nations, the Government will guarantee the provision of new cheap capital to complete extensions and improvements of plant?
§ The PRIME MINISTERI assume that my Noble Friend has in mind assistance of the kind afforded under the Trade Facilities Acts, namely, the guarantee by the Government of loans raised for capital undertakings. Such assistance is already available, and it is open to any undertaking to apply to the Trade Facilities Act Advisory Committee for guarantees to loans to be spent in replacing obsolete and inefficient plant by modern machinery.