HC Deb 12 December 1972 vol 848 cc105-6W
Mr. Bishop

asked the Secretary of State for Trade and Industry under what provisions of the Industry Act his Department is able to make grants and

Mr. St. John-Stevas

Following is the information:

loans and to afford facilities to help foreign-owned companies located in the United Kingdom, especially in the ball bearing industry.

Mr. Anthony Grant

Foreign-owned companies may be eligible for assistance under Parts I, II and III of the Industry Act, in accordance with the provisions of the Act and the conditions laid down for the various types of assistance.

Mr. Edelman

asked the Secretary of State for Trade and Industry whether he will introduce legislation to enable him to appoint directors and to acquire equity in foreign-owned companies to protect United Kingdom interests.

Mr. Peter Walker

I see no need for such legislation which would only encourage foreign investment to go elsewhere.