§ Mr. George Rodgersasked the Secretary of State for Industry whether he has any plans to extend the selective investment scheme.
Mr. MarleyThe selective investment scheme was introduced in December 1976 to stimulate investment projects of benefit to the economy that would not otherwise proceed on the basis proposed. So far, assistance of £37 million has been approved for 75 projects costing £370 million. Applications for further projects worth over £1,800 million are under consideration.
The closing date for applications was 30th June 1978. In the light of its success, I have decided to extend the scheme for a further year. I am also allocating a further £25 million to the scheme, bringing the total to £150 million.