HC Deb 01 November 1972 vol 845 cc1-2W
Mr. Wiggin

asked the Secretary of State for Trade and Industry whether any payment has yet been made to International Computers Limited following the Minister for Industrial Development's announcement, on 3rd July, of £14.2 million support for the company; and if he will make a statement.

Mr. Chataway

The first instalment of £3.4 million was paid to the company on 29th September and was provided out of the Contingencies Fund. I expect to advance approximately £8.8 million in all to the company during the current financial year, and Supplementary Estimates for this purpose will be put before Parliament in due course. As I announced on 3rd July, it is intended that the Government's investment, which is to enable the company to maintain the momentum of its research and development programme, will be recovered by way of a royalty on subsequent sales or levy on profits.