§ 89. Mr. J. BECKETTasked the Financial Secretary to the Treasury whether, in view of the fact that the purpose of the Trade Facilities Act is to give credit facilities for such schemes only as could not otherwise be immediately put in hand, he will say why credit to the extent of £2,000,000 has been granted to Synthetic Ammonia and Nitrates, Limited, a company With an authorised capital of £5,000,000, the shares of which are owned by Messrs. Brunner, Mond, Limited, whose authorised capital is &£15,000,000?
Mr. GUINNESSThe Trade Facilities Act. Advisory Committee, who are charged with the duty of investigating applications for guarantees and recommending the Treasury to give guarantees in suitable cases, were fully satisfied in this case that as a result of the guarantee the work would be put:n hand and proceeded with more rapidly than would otherwie have been the case.
§ Mr. BECKETTWas the Committee aware of the extremely generous way in which the firm had already been dealt with by the Government?
Mr. GUINNESSI do not think that that affects the particular question which they had to inquire into, which was as to whether work will be anticipated for the granting of the guarantee. I made special inquiries into this case, and I am satisfied that the Committee did o into it and were fully satisfied that at least an equivalent amount of work for the guarantee would be put. in hand at once, which otherwise would be delayed.
§ Mr. BECKETTIs it not possible, in the local Medical Officer of Health is also view of the large credit to this firm, to medical officer to the contractors of the see that they restore the Government scheme; and whether he can state what reports which they have in their steps he is taking to secure proper possession?