§ 41. Mr. Biffenasked the President of the Board of Trade what is the estimated annual amount of investment grants paid to foreign-owned companies, whose major activity is marketing and distributing within the United Kingdom the products of their overseas parent company.
§ Mr. DellThis information is not available, but the hon. Member will be aware that such companies would qualify for investment grant only on expenditure incurred in providing new machinery for214W their manufacturing activities in Great Britain.
§ Mr. Ridleyasked the President of the Board of Trade what proportion of the money currently being paid in investment grants he estimates is paid in respect of imported plant and materials.
§ 42. Mr. Biffenasked the President of the Board of Trade what is the estimated relationship between the level of manufacturing investment and the size of investment grants.
§ Mr. DellTotal investment in plant and machines in manufacturing industry between 17th January, 1966, when investment grants were introduced, and 31st March, 1967, is estimated at £1,275 million. Grants paid on eligible expenditure during this period amounted to £263 million by 31st March, 1968. Claims for the period are, however, still being received.