HC Deb 28 February 1985 vol 74 cc238-9W
Mr. Latham

asked the Secretary of State for Trade and Industry what was the number of financial guarantees under the loan guarantee scheme which his Department was called upon to meet in the financial year 1983–84 because the business had failed; what proportion this represented of loans under the scheme; what are the equivalent figures for 1984–85 to date; and what has been the cost to public funds.

Mr. Trippier

In financial year 1983–84, 1,462 guarantees were called, 10.2 per cent. of the guarantees issued in that year. In 1984–85, 1,490 guarantees were called up to 31 January 1985, 9.4 per cent. of the guarantees issued. The net cost of the scheme to date is £66.1 million.

Mr. Latham

asked the Secretary of State for Trade and Industry in how many cases where a loan guarantee has been called upon and his Department have had to meet the cost due to the failure of the business concerned, papers have been referred to the police.

Mr. Trippier

My Department has not referred any of these cases to the police.