HC Deb 05 April 1976 vol 909 cc8-9W
34. Mr. Spriggs

asked the Secretary of State for Industry to what extent his Department has restricted capital investment in any section of the glass manufacturing industry with special reference to the demolition of very old industrial buildings and the replacement of inefficient equipment.

Mr. Carmichael

We have not restricted capital investment in this industry. On the contrary, we have made assistance available through regional development grants and selective financial assistance under the Industry Act 1972.

Mr. Spriggs

asked the Secretary of State for Industry, in view of the high cost of warehousing, and its effects on industrial efficiency, if he will consider financial assistance to the flat glass industry in St. Helens to assist them with liquidity problems arising from this situation.

Mr. Carmichael

St. Helens is in a development area and, therefore, any projects in the flat glass industry can be considered for assistance under the Industry Act if they meet the criteria for assistance. As for additional finance for increased working capital, the banks are generally able and willing to provide it to creditworthy customers.

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