§ Mr. Michael Robertsasked the Secretary of State for Wales what level of grant in aid will be paid to the Development Corporation for Wales in the current financial year ; and whether he intends to give any financial assistance to the corporation in future years.
§ Mr. Peter ThomasExisting arrangements provide for grant in aid to be paid to the Development Corporation for Wales up to a maximum of £45,000 in the current year. These arrangements come to an end in March. Following a review of the corporation's work and taking account of the rôle it can play in attracting new industry to Wales, and especially to those areas which will be affected by the rundown of steelmaking, I have decided to continue the grant in aid for a further three years. A grant will be paid up to a maximum of £67,500 in each of the years 1974–75, 1975–76 and 1976–77 subject to conditions that will be discussed with the corporation.