§ Mr. Bruce-Gardyneasked the Secretary of State for Industry what is his current estimate of the value of the Exchequer investment in the Anglesey aluminium smelter; how this compares with the original cost of that investment, upvalued to 1974 prices; and whether he is satisfied with the security of that investment.
§ Mr. Richard Wainwrightasked the Secretary of State for Industry what is the total amount granted by his Department from public funds in respect of the aluminium smelter in Anglesey; and when such grants began.
§ Mr. MeacherThe Exchequer has no equity interest in Anglesey Aluminium Metal Ltd. A loan of £33 million has been made to the company under the Aluminium Industry (Anglesey Project) Scheme 1968 which provided for such a loan, to be applied only in payment of the capital cost incurred in relation to 231W the power supply element of the smelter project. Full security for the loan is provided for in the loan agreement under the scheme.
Investment grants and building grants in connection with the construction of the smelter itself were made under the normal rules and conditions.