§ 16. Mr. Ridleyasked the President of the Board of Trade what will be the total of loans and grants made toward the cost of the three aluminium smelters out of public funds.
§ Mr. DellLoans of up to £33 million and £30 million will be made to Anglesey Aluminium Metal Ltd. and the British Aluminium Co. Ltd., respectively. The amounts of investment grants and assistance under the Local Employment Acts for all three companies are confidential.
§ Mr. RidleySince my calculations, in default of the Minister's, make the total £110 million, will the hon. Gentleman set up an independent inquiry by an economist to ensure that the British taxpayer is getting value for money from this enormous expenditure?
§ Mr. DellNo, Sir. Obviously, I cannot comment on any estimate which the hon. Gentleman makes. As I said, and as I emphasised in the debate in which he played a full part, these figures are and must be confidential unless the firms themselves wish to reveal them. We are 405 confident that this project will be of substantial benefit to this country's economy.
§ Mr. James HamiltonIs my hon. Friend aware that this is a continuation of the Tory Government's policy under which they lent money to private enterprise, and is he further aware that we in Lanarkshire did not think that we got value for money?
§ Mr. DellI am interested to hear my hon. Friend's view. I am sure that in this case the country will have value for money.
§ Mr. RidleyIn view of the unsatisfactory nature of the reply, I beg to give notice that I shall raise the matter on the Adjournment at the earliest possible moment.