§ Mr. Woodburnasked the Secretary of State for the Colonies what are the resources being made available to the Malta Industrial Development Board for development of industry on the island; and what progress is being made.
§ Mr. Iain Macleod£5,425,000 is available for direct aid to industrial and tourist development in Malta under the Government's five-year Development Plan. This is over and above the £6 million which Her Majesty's Government are providing for the conversion of the Naval Dockyard for commercial use.
98WApproved projects not only receive direct financial assistance in the form of loans and grants but also benefit from tax and duty exemptions and the provision of factory space at low rentals.
Nine industrial projects and three relating to hotel construction and extension have so far been approved. These involve a capital investment of £1.9 million and are expected eventually to provide employment for 2,000 persons.