§ 27. Mr. Kinnockasked the Secretary of State for Wales what plans he has to assist in the development of the Commercial Bank of Wales; and if he will make a statement.
§ Mr. Peter ThomasThe Commercial Bank of Wales Limited, which has recently been registered under the Companies Act, 1948, will be eligible for the investment incentives which apply to companies of this type.
§ Mr. KinnockI thank the right hon. and learned Gentleman for that reply. Will he respond to this encouraging initiative by private business in Wales and persuade his Government colleagues to match pound for pound whatever money the Commercial Bank manages to raise for development in Wales so that we may overcome the drastic liquidity crisis which afflicts Welsh industry?
§ Mr. Peter ThomasI take it that the hon. Gentleman is referring to loans available at certain rates of interest. Certainly the loans will be available from this Government under our latest measures in connection with the Local Employment Act, and there will be greater flexibility in granting such loans.