§ Mr. Hicksasked the Chancellor of the Exchequer if he will abolish the minimum figure of £50,000 for eligibility for financial assistance from Finance for Industry's Global Loans Scheme, so as to take into account the requirements of smaller business units as represented in the tourist industry.
§ Mr. DellThe Global Loans Scheme is administered in this country by Finance for Industry, but it is financed by the European Investment Bank and the terms of loans are laid down by it. The minimum limit is applied generally by the European Investment Bank to cut down administrative costs. However, even if the limit were waived, the scheme would not be well suited to smaller firms not directly earning foreign exchange since the borrower is required to carry the exchange risk on 60 per cent. of any loan.