§ 16. Mr. Richard Wainwrightasked the Secretary of State for Industry whether he will extend the period allowed under the Wool Textile Scheme regulations in which firms may be entitled to a closing-down grant.
§ Mr. KaufmanThe Wool Textile EDC is currently examining the progress of the Wool Textile Scheme and the desirability of extending it. The EDC will put its recommendations to the Department when it has completed its review later this month.
§ Mr. WainwrightWill the Minister bear in mind his Government's desire to see this industry partly restructured? Will he also bear in mind that the past 16 months have been so uncertain for trade as to be a close season for making decisions of the kind to which reference has been made?
§ Mr. KaufmanWe take into account the difficulties that the industry is undergoing, and we shall continue to do so in coming to our conclusions.
§ Mr. FordDoes my hon. Friend agree that it might well be time to transmute the realisation scheme, and the money available to it, to a scheme for enabling wool textile manufacturers to commit themselves to capital investment, so that they can take advantage of the upturn which may be coming in a year or two's time?
§ Mr. KaufmanWe recognise that there is dissatisfaction about the realisation scheme. That is one reason for our having extended the scheme for another month. I assure my hon. Friend that further constructive suggestions will be taken into account before the Government arrive at their decision.
§ Mr. Giles ShawWhen discussing the continuation of the scheme, will the Minister bear in mind the problem of smaller firms which do not currently qualify for the £50,000 limit? Is he prepared to make a further statement on guards for carding machines, which cost the wool industry some £4 million?
§ Mr. KaufmanWe take into account the problems of small firms. I know that the hon. Gentleman will accept that these are matters which must await a further statement.