§ Mrs. Winifred Ewingasked the Secretary of State for Industry, in the case of companies which have received a contribution from Government funds, what detailed information is sought by the Government as of right and at what intervals, as to (a) monthly cash flow statements, (b) quarterly and six monthly profit and loss statements, and (c) annual reports and accounts.
§ Mr. Gregor MackenzieProcedures have been evolved to enable appropriate scrutiny to be exercised over the proper application of financial assistance under the Industry Act 1972. These include conditions about payment of assistance and access to the necessary information. The type and frequency of the information required depends on the amount and form of assistance, taking account also of the degree of risk involved.
§ Mr. Michael Marshallasked the Secretary of State for Industry what was the total amount of financial aid paid to companies by his Department for the last 12 months for which figures are available.
§ Mr. Gregor Mackenzie£761 million in the 12 months to 30th November 311W 1975. This represents the gross total of expenditure by the Department of Industry under the regional support and general support to industry programmes, plus assistance to Rolls-Royce (1971) Ltd., but less the refinancing of home shipbuilding lending and certain other services not involving direct aid to individual companies. It includes the purchase of shares in British Leyland.
§ Mr. John Mooreasked the Secretary of State for Industry if he will list the assistance granted to special schemes under Section 8 of the Industry Act 1972 since April 1975.
§ Mr. CarmichaelThe following expenditure has been allocated for special schemes under Section 8 of the Industry Act 1972:
£ million *Wool Textile Scheme 3 Ferrous Foundry Scheme 25 Machine Tool Industry Scheme 20 Clothing Scheme 20 Deferred projects, divided between: New Investment 100 Modernisation 20 Total 188 * This is additional to the sum of £15 million which was allocated on 19th July 1973. Payments and commitments do not arise until individual proposals have been approved and offers accepted.