§ Mr. Skeetasked the Secretary of State for Trade if he will specify the total grants made to specific industries under the Industry Act 1972 and the name of companies in which the state has acquired a shareholding since the inception of the Act.
§ Mr. MackenzieI have been asked to reply.
The only grants so far made to specific industries under the Industry Act 1972 are 235W to the shipbuilding industry under Section 11. Payments up to 28th February 1974 totalled £26.6 million.
Provision exists under schemes formulated under Section 8 for grants to be made to the wool textile industry and to United Kingdom firms which provide offshore supplies. But no payments have so far been made.
The shareholdings taken under the Act are:
Kearney & Trecker Marwin Ltd.
100,000 8½ per cent. Redeemable Convertible "B" Third Preference shares of £1.400,000 7½ per cent. Redeemable Participating Non-convertible Fourth Preference shares of £1.Norton Villiers Triumph Ltd.
3,500,000 £1 "A" Redeemable Preference shares.1,372,000 £1 "B" Redeemable Convertible Preference shares.Govan Shipbuilding
5,000,000 £1 Ordinary shares.