§ 89. Mr. Onslowasked the Minister of Technology if he will estimate the cost of investment grants, both gross and net of corporation tax, by industry group according to the minimum list headings of the Standard Industrial Classification in 1969-70; and what is his estimate of the cost in 1970–71 and 1971–72.
§ Mr. Varley:The gross cost in 1969–70 was £ 587 million; this will be analysed by industry groups in the Annual Report which will be presented later this year. Information on which to base an estimate of the cost, net of corporation tax, is not readily available. The estimate of the gross cost for 1970–71 is £ 600 million. The estimate for 1971–72 will be presented in the usual way at the appropriate time.
300Wend-March, 1966, to end-December, 1969. Figures from March, 1964, to December, 1965, are given below. Figures for end-March, 1970, will be published in the June Bank of England Bulletin.