§ 9. Sir J. Vaughan-Morganasked the President of the Board of Trade how many jobs will be provided as a result of the loan accorded to the Pressed Steel Company under the Local Employment Act; when these will become available; and where they will be.
§ Mr. N. MacphersonMy right hon. Friend is authorised by the company to say that it expects to provide over 5,000 new jobs as a result of the development for which the loan has been made. Some of these jobs have already been provided and the rest should arise over the next two or three years. They will all be at Linwood, Paisley.
§ Sir J. Vaughan-MorganThat is very satisfactory as far as it goes, but can my hon. Friend explain why Parliament and the taxpayer have to derive their information about the nature of this transaction from an indiscreet statement in the chairman's annual report?
§ Mr. MacphersonThe statement was not indiscreet so far as the company was concerned. It would have been indiscreet if we had made it. We deal with the company on a confidential basis, but it is perfectly open to the company to disclose what goes on. It would not be open to us.