§ 87. Mr. Austinasked the President of the Board of Trade the full value and extent of the subsidies available under the provisions of the Cotton Machinery Subsidies Act; the actual value of orders so placed; the nature of the difficulties preventing the full operation of the Act; and if he will now convene a meeting of the Master Spinners' Federation to consider the expediting of placing orders prior to the expiry of the subsidy period.
§ Mr. J. EdwardsDuring the passage of the Cotton Spinning (Re-equipment Subsidy) Act through Parliament it was explained that a precise estimate of the resulting charge on public funds could not be made, but it was unlikely to exceed £12 million. It is not possible to state the actual value of orders which will eventually qualify for subsidy until claims have been lodged and approved. Sixteen groups controlling 50 per cent. of the spindle capacity of the industry 259W have been registered for the purposes of the Act, but progress in submitting modernisation plans is not as rapid as we should like, although the time taken to prepare these plans is often considerable. There has been continuous contact with the industry on the progress of the scheme and arrangements have already been made with the Cotton Board for a special reminder to firms on the need to place orders within the period specified by the Act.