§ Mr. Bruce-Gardyneasked the Secretary of State for Trade and Industry what was the largest total of public financial support, including grants under the Local Employment Act, investment grants and 263W payroll subsidies provided at any one time for any one recipient firm during the past 10 years where special legislation involving publication of financial details was not required.
§ Mr. Anthony Grant:I regret that this information could not be provided without a disproportionate expenditure of time and effort.
§ Mr. Bruce-Gardyneasked the Secretary of State for Trade and Industry if he will detail the arrangements for monitoring the expenditure of public finance to companies in the private sector under the terms of the Local Employment Act.
§ Mr. Anthony Grant:Loans made under the Act may only be used for specified purposes and may be recalled in appropriate circumstances. During the term of the loan, the Department keeps in close touch with the borrower, who must provide regular accounts and conform to conditions laid down in a legal agreement. This monitoring work is carried out by the Department in consultation, where appropriate, with the advisory committee. Building grants are also made subject to appropriate conditions, which are reinforced by periodic checks on the use of the buildings. Grants under Section 4 are payable only on the production of evidence that the expenditure in question has been incurred.