HC Deb 02 May 1977 vol 931 cc45-6W
Mr. Kenneth Clarke

asked the Secretary of State for Industry whether he will lay before Parliament the statement of objections of the Industrial Development Advisory Board to further State assistance to the Kirkby Workers' Co-operative.

Mr. Cryer

The detailed advice of the Industrial Development Advisory Board is confidential to the Secretary of State for Industry.

Mr. Kenneth Clarke

asked the Secretary of State for Industry why the application of the Kirkby Workers' Co-operative for a further grant under Section 7 of the Industry Act 1972 was not refused on the grounds that the undertaking did not have good prospects of viability or sound commercial prospects.

Mr. Cryer

The reasons why the Secretary of State for Industry decided to make this grant are given in his answer to a Question by my hon. Friend the Member for Ormskirk (Mr. Kilroy-Silk) on Tuesday 26th April.

Mr. Kenneth Clarke

asked the Secretary of State for Industry whether he was satisfied that the Kirkby Workers' Co-operative had exhausted its banking facilities or any possibility of raising further capital in the private market before he authorised a further grant to the co-operative.

Mr. Cryer

It is not a condition precedent to assistance under the Industry Act 1972 that a company should have exhausted the resources of the private sector.

Mr. Kenneth Clarke

asked the Secretary of State for Industry whether he consulted any bodies or persons outside his own Department and the Industrial Development Advisory Board before making a further grant to the Kirkby Workers' Co-operative.

Mr. Cryer

The Secretary of State for Industry consulted his ministerial colleagues about the application from KME.

Mr. Kenneth Clarke

asked the Secretary of State for Industry what monitoring arrangements he is proposing over the expenditure by the Kirkby Workers' Co-operative of its further grant from the Government.

Mr. Cryer

It will be a condition of the grant that KME provides a full financial report to my Department every month.