Mr. H. Wilsonasked the President of the Board of Trade to give the final figures showing the operation of the Cotton Spinning Re-equipment Subsidy Act, 1948, in terms of the number of groups, the number of mills, the percentage of the mule equivalent spindles represented by them, the total cost of modernisation, and the total subsidy paid.
§ Mr. P. ThorneycroftSubsidy payments were made to 26 groups in respect of re-equipment affecting 146 mills and 12 million mule equivalent spindles. These spindles represented 30 per cent. of the mule equivalent spindles installed in the industry as a whole at the 15th August, 1945. The total cost of modernisation on which subsidy was claimed was £11,900,000 and the total subsidy paid £2,800,000.