§ 37. Mr. Timothy Smithasked the Secretary of State for Industry if he is satisfied with the progress of the loan guarantee scheme.
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§ Mr. MacGregorI am encouraged that the demand for scheme lending has continued at a high level. By the end of October 1982, 6,959 guarantees had been issued in respect of £232.4 million of bank lending. About half of this has gone to new businesses, and about half also to manufacturing. I am at present conducting a further review of the scheme's progress, which I expect to have completed by the end of the year.