§ 55. Mr. Ridleyasked the Secretary of State for Trade and Industry if the grant of £900,000 made to Oxley Industries Ltd. to acquire a Liverpool printing works was publicly offered to all other potential purchasers; and if he will make a statement.
§ Mr. Anthony GrantThe liquidator of a Liverpool printing and bookbinding company has made arrangements with Oxley to enable employment to continue. As part of these arrangements, which include substantial backing from the private sector, a loan of £450,000 is being made available under the Industry Act 1972. The company's management, the liquidator and all concerned were aware that any firm which was interested in acquiring the business would be considered for help under the Industry Act. Without this assistance some 300 jobs would have been lost in an area where the unemployment rate exceeds 5 per cent.