§ Mr. Skeetasked the Secretary of State for Industry if he will increase the limit under which applications for exchange risk cover on loans from the European Investment Bank and the European Coal and Steel Community can be handled on the basis of a simplified appraisal procedure.
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§ Mr. MacGregorAt present the Government accept certain applications on a simplified basis for exchange risk cover under section 7 of the 1972 Industry Act for loans from the European Investment Bank and the European Coal and Steel Community. These arrangements, which are designed to minimise paperwork for the applicant and to allow decisions to be taken quickly, apply where no other form of selective assistance is sought and where the loan does not exceed £50,000. The Government has now decided to extend these arrangements to include loans up to £100,000.