§ Mr. Michael McGuireasked the Secretary of State for Industry (1) if he will further consider giving grants to existing companies in special development areas and so encourage companies to expand and, in particular, increase their work force; and if he will make a statement;
(2) what special facilities at present exist to encourage companies in the assisted areas to expand and, in particular, increase their work force.
§ Mr. CryerA wide range of incentives is available to companies wishing to invest in the assisted areas. These include regional development grants and regional selective assistance under the Industry Act 1972. These incentives are available equally to incoming companies and to existing companies. Regional selective assistance, in particular, takes account of the employment likely to be created by investment. In addition, the full range of incentives available under section 8 of the Industry Act 1972 are available to companies located in the assisted areas. Detailed information about these forms of assistance is published in the Industry Act annual report, a copy of which is available in the House of Commons Library. Further incentives directly linked to employment are available from the Department of Employment.