Northern Ireland Finance Corporation

HC Deb 05 August 1975 vol 897 cc159-60W

Mr. Fitt

asked the Secretary of State for Northern Ireland if he will make a statement about the future of the Northern Ireland Finance Corporation.

Mr. Merlyn Rees

The Government consider that the Northern Ireland Finance Corporation has a valuable rôle to play in the future development of the Northern Ireland economy in the context of the Government's proposals for the regeneration of British industry as a whole. This will require changes in the corporation's powers, to fit in with the establishment of the National Enterprise Board and Scottish and Welsh Development Agencies. Legislation will be introduced later this year with the intention of having the amended powers available to the corporation by 1st April 1976.