§ Mr. Palmer
asked the Secretary of State for Industry if he will take steps to recover in whole or part the £43 million of public money granted in 1967 to the 479W Anglesey Aluminium Company for the production of aluminium, since the company has not to date achieved such production profitably.
§ Mr. Carmichael
No. A loan of £33 million was made to Anglesey Aluminium Metal Limited as from 1968 under the provisions of the Industrial Expansion Act 1968. This loan is being repaid with interest in accordance with the terms of the loan agreement. The company received building grants and also investment grants for plant and machinery under the Industrial Development Act 1966. The investment grants were made subject to certain conditions which applied for a period of three years. This period has now expired. I am aware that the company is actively engaged in improving the profitability of its operations.