§ 38. Mr. Hordern
asked the Secretary of State for Industry how much money has been advanced to industrial co-operatives since February 1974; and what repayment of interest has been received from these ventures.
§ Mr. Cryer
Records of assistance do not distinguish between co-operatives and other organisations and the information is therefore not available in the form requested. Of £11.4 million advanced since February 1974 to co-operatives as rescue assistance under sections 7 and 8 of the Industry Act 1972, £5.5 million was in the form of loan assistance.
Interest payments received to date total £131,000. Under the Industrial Common Ownership Act 1976, grants have been made to Industrial Common Ownership Finance Ltd., to enable them to make loans totalling £33,500 to five co-operatives. No payments of interest are due yet on these loans.