HC Deb 27 June 1962 vol 661 cc160-1W
Mr. Thornton

asked the President of the Board of Trade what will be the cost to Treasury funds of applications received to date for re-equipment grants under the terms of the Cotton Industry Act, 1959.

Mr. Erroll

Up to 22nd June the Cotton Board received applications covering expenditure, incurred or proposed, to the amount of £62 million; assuming all these projects go ahead, the Government's contribution towards them will be about £15½ million.

Mr. Thornton

asked the President of the Board of Trade what his latest estimate is of the cost to Treasury funds for the scrapping of machinery under the terms of the Cotton Industry Act, 1959.

Mr. Erroll

My estimate is £11.8 million.