§ Mr. Marsh
asked the Prime Minister if he will list the dates, amounts, recipients and purposes of grants and loans of more than £1 million, other than those made under the Local Employment Act, made during the last five years to companies under private control; and if he will indicate the Ministers responsible.
§ The Prime Minister
The following grants and loans have been made by Government Departments to private companies in the United Kingdom during the last five years:208W
- (a) Colvilles Limited. Under an agreement dated 29th September, 1959, £50 million is being loaned to Colvilles for a new strip mill at Ravenscraig. To date, £47.5 million of this loan has been drawn. The Minister responsible is the Minister of Power.
- (b) David MacBrayne Limited. Annual grants are made to David MacBrayne Limited for shipping services in the Highlands and Islands. Over the five years 1958–59 to 1962–63, the grants have totalled £1.4 million. The Minister responsible is the Secretary of State for Scotland.
- (c) Fine Spinners and Doublers Limited (and wholly owned subsidiary companies). Grants have been made under the Cotton Industry Act, 1959, towards paying compensation for the elimination of excess capacity under reorganisation schemes administered by the Cotton Board to which the industry, including this firm, are also contributing necessary funds: and for re-equipment. The payments from public funds to this firm from 1959–60 onwards have totalled £1.11 million. The Minister responsible is the President of the Board of Trade.
- (d) Vickers Armstrong (Shipbuilders) Limited. Grants have been made to Vickers Armstrong (Shipbuilders) Limited at intervals over the last five years to a total of £1.08 million for plant extension to provide nuclear submarine construction facilities. The Minister responsible is the First Lord of the Admiralty.
During the five years 1958–59 to 1962–63, payments totalling £35.45 million have also been made to companies under private control for the purpose of assisting the development and proving of transport aircraft. Arrangements have been made on all the projects supported for the Government to participate in the proceeds from sales. It is not the practice to divulge payments to individual firms in the aircraft industry. The Minister responsible is the Minister of Aviation.