§ Mr. David Watkins
asked the Secretary of State for Industry how many applications for loans under the Industrial Common Ownership Act 1976 have been submitted to him; and how many have been approved.6W
§ Mr. Cryer
The Act authorises the Secretary of State to make available up to £250,000 over five years to assist with the provision of small loans to worker-controlled enterprises. The scheme is administered by Industrial Common Ownership Finance Ltd. (ICOF), which has made five successful applications for funds to on-lend to co-operative and common ownership enterprises.