HC Deb 22 January 1973 vol 849 cc18-9
12. Mr. Edward Lyons

asked the Secretary of State for Trade and Industry whether he will reintroduce investment grants for prototypes.

Mr. Chataway

No, Sir. Investment grants for prototypes were part of the investment grants scheme which was terminated in October 1970 and the Government do not intend to reintroduce a grants system specifically for prototypes.

Mr. Lyons

I understand that the Minister will not do so yet, at any rate. Is it not the fact that he has had representations on this issue from the Managing Director of the Drum Engineering Company of Bradford and that small firms need this additional assistance for the cost of employing high-grade designers to meet the challenge of the giants and to create new designs of machinery?

Mr. Chataway

That scheme involved a long and cumbersome administrative process. There are many ways in which research and development can be helped. As the managing director of the firm which the hon. Gentleman mentioned has now been informed, help is available by means of tax allowances and I understand that the company is seeking advice on its taxation position in this respect.

Forward to