§ Mr. Gryllsasked the Secretary of State for Industry what is the total amount of (a) assistance offered to date and (b) moneys paid to date under the wool textile industry scheme, since the commencement of the scheme.
Mr. Alan WilliamsSince the inception of the scheme, 189 offers of assistance have been made on investment of £72.3 million, of which £54.6 million is for new plant and machinery and £17.4 million for new and modernised buildings. The estimated grant involved is £13.9 million, of which £7.4 million had been paid out by 26th October 1976. In addition, grants of £1.7 million have been paid under the realisation part of the scheme as compensation for firms ceasing to trade or closing down production units.
§ Mr. Maddenasked the Secretary of State for Industry if he will make a statement about the future of the Wool Textile Scheme.
Mr. Alan WilliamsUnder the original Wool Textile Scheme, which was announced in July 1973 and revised in February 1975, applications had to be submitted by 31st December 1975 although applicants have until 31st December 1977 to complete their projects. Total investment generated by the scheme is now expected to be nearly £76 million, of which £56.9 million is for new plant and machinery and £17.7 million for new and modernised buildings. Total Government assistance will be about £17 million.
241WMy Department is currently considering proposals put forward by the Wool Textile EDC for a second-stage scheme of assistance and it is hoped to make an announcement shortly.