HC Deb 27 January 1967 vol 739 cc382-3W
Dr. David Owen

asked the President of the Board of Trade to what extent the introduction of financial penalties to discourage firms from closing down branches in development areas would discourage the initial transfer.

Mr. Jay

The introduction of direct financial penalties would be likely to act as a considerable discouragement. There are of course already provisions for the repayment of all or part of assistance under the Local Employment Acts given by way of building grant if the closure takes place within five years of the assistance being given, and of any outstanding loans. Investment grants made at the higher rate for development areas will also be repayable in whole or in part if the assets concerned cease to be used, are disposed of. or are moved out of development areas with in three years.

Dr. David Owen

asked the President of the Board of Trade (1) how many firms have closed branches in development areas in 1966; and whether it is possible to make a comparison with closures occurring from development districts in previous years;

(2) how many firms have closed down in development areas in 1966; and whether it is possible to make a comparison with closures occurring from development districts in previous years.

Mr. Darling

This information is not available.