§ Mr. John Leeasked the Chancellor of Exchequer what is the approximate notional market value at the latest convenient date of the total of development grant capital paid out since 1964 to companies, representing such capital, pro rata, as ordinary shares of the companies concerned.
§ Mr. Varley:I have been asked to reply.
I regret that the information needed to make such an estimate is not readily available, but in any case it is doubtful whether any useful conclusions could be drawn from such a hypothetical calculation. My hon. Friend may however like to know that since 1964 rather more than £ 100 million has been paid in grant under the Local Employment Acts to companies in development districts and development areas, and I have no doubt that employment has been greatly assisted.