HC Deb 09 November 1970 vol 806 cc17-8
14. Mr. William Hamilton

asked the Secretary of State for Trade and Industry what steps he intends to take to prevent abuses in the operation of the Industrial Development Act, with particular reference to the public financing of yachts to be used for business purposes.

Mr. Anthony Grant

Investment grant is not paid unless all the requirements of the Act are satisfied.

Mr. Hamilton

Does that answer mean that the yacht "Cadabra" which was built for Mr. B. D. Hulme fulfils all those conditions and that in fact it is a floating showroom rather than a luxury cruiser built at the taxpayers' expense.

Mr. Grant

The Answer means that there have been no cases drawn to my attention of infringements of the Act. If the hon. Gentleman has any evidence which he wishes to submit, I will gladly consider it.