§ Mr. Gryllsasked the Secretary of State for Industry if the Industrial Development Advisory Board has advised in favour or against the incurring of additional expenditure of public funds of £1,900,000 in respect of the scheme of arrangement for Kearney and Trecker Marwin Limited, to be put to the extraordinary general meeting of the company on 29th June 1976.
Mr. Alan WilliamsThe Industrial Development Advisory Board approved my Department's proposal to negotiate an arrangement on this basis.
§ Mr. Gryllsasked the Secretary of State for Industry how much public money has been committed altogether by the Government to Kearney and Trecker Marwin Limited: (a) by means of equity participation and (b) by means of loans;
628WIndustry Act 1972 to firms located in the South-West assisted areas; what is the total amount of assistance that has been given in each year; and how many jobs have been saved and created as a consequence.
Mr. Alan WilliamsOffers of regional selective assistance under Section 7 of the Industry Act 1972, in aid of projects located in the South-West of England, have been made as follows:
and if he will publish the conditions under which the loans were made and the date for their repayment.
Mr. Alan WilliamsThe Government's commitment to Kearney and Trecker Marwin Limited is in the form of a preference shareholding of £235,000 and a guarantee of £250,000 to the company's bankers. The Government hold none of the equity in the company, and have no loans outstanding to it. Secured loans totalling £950,000 were repaid in 1974.