§ Lord James Douglas-Hamilton
asked the Secretary of State for Industry whether he will announce any change in the way the exchange risk guarantee scheme operates in relation to loans made available by the European Coal and Steel Community in areas of coal and steel closure.
§ Mr. Norman Lamont
Exchange risk cover has hitherto been available under section 7 of the Industry Act for European Coal and Steel Community loans for investment in coal and steel closure areas in the assisted areas. I am pleased to announce that cover will now be available under section 8 of the Act for loans for qualifying projects located in closure areas outside the assisted areas on the same conditions as it is now provided within those areas.