HC Deb 26 June 1967 vol 749 c22W
Mr. Ledger

asked the Minister of Technology what is the policy of the National Research and Development Corporation with regard to interest charges on loans for development of hovercraft; whether he is satisfied that high interest charges are not causing a slowing up of essential hovercraft research or development; and if he will make a statement.

Mr. Benn

In negotiating its assistance to industry the National Research Development Corporation is required by Statute to take account of profitability, as well as the national interest. Its recovery terms therefore normally include an allowance for the commercial rate of interest. I do not think that this has hindered hovercraft research and development.