§ Mr. Thorntonasked the President of the Board of Trade if he will state his latest estimate of the total cost to Treasury funds of the re-equipment grants under the terms of the Cotton Industry Act, 1959.
§ Mr. MaudlingApplications for re-equipment grants may be submitted up to July, 1962; consequently no accurate estimate of the total which may be74W required can be made at this stage. Applications so far received would, if fully accepted, involve Exchequer payments of about £5 million.
§ Mr. Thorntonasked the President of the Board of Trade if he will state the amount of Treasury funds already paid for the scrapping of machinery under the provisions of the Cotton Industry Act, 1959; and what is his estimate of the total cost to the Treasury for the scrapping of machinery under this Act.
§ Mr. Maudling£8.3 million has been paid from public funds up to 25th November. The total cost to the Exchequer will depend on factors such as the outcome of the Finishing Schemes and may fall between £12 million and £13 million.