Mr. Jim Callaghanasked the Secretary of State for Trade and Industry what level of Government grants will be available for industrial developments in the Rochdale borough area from 1 January 1984 to December 1985.
§ Mr. TrippierIn addition to assistance under a number of national schemes under the Industry Act 1972 and the Science and Technology Act 1965, details of which have been published, Regional development grants are payable at the rate of 15 per cent. on the capital cost of new assets (plan, machinery, buildings and works) provided for use on qualifying premises in the Rochdale employment office area. This rate will apply until the revised regional development grant scheme is introduced, probably in the autumn of 1984.
At that time the Secretary of State will announce detailed transitional provisions for the changeover to the revised scheme. Rates of grant under the revised scheme have yet to be decided. Regional selective assistance may also be available for projects in the area but this assistance is negotiated as the minimum necessary; there is no set rate of grant.