§ Mr. McBrideasked the Secretary of State for Trade and Industry if, in consideration of the Bolton Report, he will now state in what form he will make available to small firms in Wales access to economies in large-scale marketing.
§ Mr. Anthony GrantSuch economies are by definition not available to individual small firms and the Committee made no recommendation on this point. Many types of arrangement are open to small firms to organise for themselves. It cannot be excluded that a particular arrangement might involve restrictions registrable under the Restrictive Trade Practices legislation but I understand that if so 183W the Registrar does his best to give an informal indication of the position.
§ Mr. McBrideasked the Secretary of State for Trade and Industry if, in order to increase industrial investment and enable Welsh small firms to seize the opportunities of economies of scale in production, marketing and other functions, he will consider, in terms of paragraph 12.68 of the Bolton Report, the provision of venture capital.
§ Mr. Anthony GrantI am certainly concerned that small firms in Wales should invest and grow. But, as the hon. Member is aware, the Bolton Committee considered that encouraging the flow of venture capital by subsidy would be hazardous in its effects and unjustified.