HC Deb 19 March 1964 vol 691 c207W
29. Mr. A. Lewis

asked the Secretary of State for Industry, Trade and Regional Development why he did not discuss with older and more financially stable companies, and the appropriate trade associations in the pitch fibre pipe industry, the question of the £235,000 loan to Pitch Fibre Pipes Limited, before making such a loan.

Mr. Heath

Applications for assistance are confidential and it would be improper to discuss them with other companies or with trade associations. The financial position of Pitch Fibre Pipes Limited and the technical features of their project at West Hartlepool were fully investigated by the Board of Trade Advisory Committee, who satisfied themselves, in accordance with the terms of the Local Employment Act, 1960, that there were good prospects of the undertaking ultimately being able to be carried on successfully without further financial assistance.