§ Mr. MacArthurasked the President of the Board of Trade what proportion of the £10 million loan made available for the construction of the Fort William Pulp Mills has now been taken up by the operating company; when the balance will be taken up; and what estimate he has made of the yearly cost of the remission of interest on the loan during the first years of the project.
§ Mr. JayThe whole of the loan of £8 million for the first stage of the project will have been advanced by 1st April. The remaining £2 million will be issued if and when the Company proceeds with the second stage of the project and demonstrates its need for such further assistance. Grants of £49,000 in 1963–64 and £241,000 in 1964–65 have been made in respect of interest; it is estimated that there will be further grants of £434,000 in 1965–66 and £440,000 in 1966–67.