§ Mr. Astor
asked the Secretary of State for Economic Affairs what is the value of loans which have been made or committed by the Industrial Reorganisation Corporation to the mill industry to assist in the installation of de-inking plants; and what savings on imports are anticipated from this investment.
§ Mr. Frederick Lee
The Industrial Reorganisation Corporation is providing a loan of £1.5 million to the Reed Paper Group, in accordance with Section 2(1)(b) of the I.R.C. Act, to help finance two plants to de-ink and reconstitute waste paper. It is anticipated that these plants will yield a total import saving of the order of £1.5 million annually, when working at full capacity.