HC Deb 09 March 1971 vol 813 c96W
Mr. Horam

asked the Secretary of State for Trade and Industry if he will publish figures showing the amount of money he will still be paying out in 1974–75 on investment grants payable on contracts entered into before 27th October, 1970; and how much of that total is accounted for by the differential development area grants.

Mr. Anthony Grant

The White Paper on "Public Expenditure 1969–70 to 1974–75" (Cmnd. 4578) contains in Table 2.7 an estimate of £65 million for investment grant payable in 1974–75, exclusive of payments to the nationalised industries. By then virtually all payments will be in respect of expenditure incurred under contracts entered into before 27th October, 1970. Since most of this £65 million will relate to ships, to which only the standard rate of grant applies, the component in respect of the differential rate for development areas will be very small.

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