HC Deb 05 June 1962 vol 661 cc33-4W
28. Mr. Channon

asked the President of the Board of Trade for what reasons Her Majesty's Government advanced a loan to the Pressed Steel Company.

Mr. N. Macpherson

Because we were satisfied, in accordance with the advice of the Board of Trade Advisory Committee, that it was expedient to do so under the Local Employment Act for the purpose of providing employment for the benefit of a development district.

31. Sir J. Vaughan-Morgan

asked the President of the Board of Trade how much has been loaned by Her Majesty's Government to the Pressed Steel Company; at what rate of interest the loans have been advanced; and what other conditions have been attached.

Mr. N. Macpherson

The amount of any loan offered under the Local Employment Act and the terms attaching to it are confidential as between the Board of Trade and the individual applicant. I have, therefore, nothing to add to what has been said in the Pressed Steel Company's Report for the year ended 31st December, 1961.