§ Mr. Grimondasked the Secretary of State for Trade and Industry what are the total grants and subsidies committed by Her Majesty's Government (a) to the nationalised industries, and (b) to the private sector.
§ Mr. Anthony Grant, pursuant to his reply [OFFICIAL REPORT, 9th July 1973; Vol. 859, c. 251], gave the following information:
Provision in the 1973–74 Supply Estimates for expenditure by the Department 165W of Trade and Industry on grants and subsidies is as follows:
- (i) to nationalised industries £162.9 million
- (ii) to undertakings in the private sector £495.3 million
In addition, assistance to the Mersey Docks and Harbour Company of up to £1.75 million has since been announced.
Grants to the nationalised industries include assistance under the Coal Act (1973), investment grants, grants under the Local Employment Act 1972 and regional development grants.
Grants to the private sector include investment grants, grants under the Local Employment Act 1972, grants under the Industry Act 1972—regional development grants, interest relief and removal grants, shipbuilding construction grants and special grants to Govan and Cammell Laird—grants under the Development of Tourism Act 1969, mineral exploration grants and grants to the research associations.
The totals do not include loans, purchase of equity and other shareholdings, or support for development projects where arrangements are made for the Government to recover this contribution if the project is successful. Grants-in-aid and expenditure on export promotion are also excluded; details may be found in the 1973–74 Supply Estimates.