§ Mr. Mitchisonasked the Minister of Power if he will set out the Heads of Agreement, dated 10th March, 1959, with Richard Thomas and Baldwins Limited, under which he is making a loan to that company for the construction of a sheet-steel plant at Llanwern and if he will state any subsequent modifications of the agreement.
§ Mr. WoodThe Heads of Agreement were set out in an Answer given by my right hon. Friend, the then Paymaster-General to a Question by my hon. Friend the Member for Sheffield, Heeley (Sir P. Roberts) on 13th March, 1959. The only modification since then has been the raising of the maximum amount of the loan from £60 million to £70 million, in order to enable the Company to extend and accelerate the completion of the approved scheme. I announced this in Answer to a Question by my hon. Friend the Member for Aylesbury (Sir S. Summers) on 16th December, 1959.