§ 1. Mr. Andersonasked the Secretary of State for Wales what reply he has given to the Welsh Council's recommendation that an Investment Bank for Wales be established.
§ The Secretary of State for Wales (Mr. George Thomas)I have told the Council that, as requested by it, I have brought its report on "The availability of capital for small firms in Wales" to the attention of those of my colleagues who also have an interest in the matters which it covers.
§ Mr. AndersonDoes my right hon. Friend agree that, in the present financial situation of small firms in Wales, the establishment of such a bank would be highly desirable, if not necessary? Would he care to speculate on the extent of the assistance which the Government will be prepared to provide, either financial or otherwise?
§ Mr. ThomasThe majority of the Council felt that there was a need for such an institution. There is a minority which is not so satisfied. We are now examining the proposal. I obviously want to encourage anything that will improve development in Wales, but we must examine it in depth. On the question of financial support, there is no proposal that Her Majesty's Government should help.