§ In the meantime, we are pressing ahead with specific programmes for improving our industrial base under Section 8 of the Industry Act. A total of £285 million has so far been allocated for accelerated projects and industry schemes. We have identified other sectors which may be suitable for this approach—for example, parts of the electronics and automation industries; these will be fully appraised and costed over the next two months. Not all will necessarily survive this scrutiny, and others may emerge. After consultation with my right hon. Friend the Secretary of State for Industry, I now propose to 252 allocate a further £40 million to such industry schemes.
§ Once decisions have been taken, the industries concerned will be coming forward with plans which should result in investment expenditure from the autumn of this year. Government funds will not, however, be needed until the company investment is well under way; moreover, some funds are in hand from the tranche announced only last month. Consequently, although the relevant expenditure will be going ahead later this year, I do not envisage any significant drawing against this new tranche until early in 1977.