HC Deb 19 November 1946 vol 430 c686
62. Mr. Chetwynd

asked the Chancellor of the Exchequer the number of applications for financial assistance made under Section 4 of the Distribution of Industry Act, 1945; and the number and amount of grants or loans made by the Treasury and by the Industrial and Commercial Finance Corporation, Limited, and the Finance Corporation for Industry, respectively

Mr. Glenvil Hall

There have been 38 firm applications to the Treasury Four were withdrawn, eight loan schemes involving £438,500 have been approved, and 15 projects are now under consideration. The chairman of the Industrial and Commercial Finance Corporation, Limited, has stated that about I /5th of the finance of £5 million so far approved by that corporation has been for development areas. The Finance Corporation for Industry will be publishing a report within the next few months

Mr. Chetwynd

Is my hon. Friend satisfied that adequate use is being made of this Section to provide for industries in the development areas?

Mr. Glenvil Hall

We hope so. It is for those who need assistance to come to the Government and ask for it. When applications are made we receive them with all sympathy; in fact, we invite them.