§ Mr. Barry JonesTo ask the Secretary of State for Wales what is the amount of funds given so far by(a) Investors in Industry, (b) the Welsh Development Agency and (c) the European Economic Community to Datamagnetics, Clwyd; and what new funds are proposed; and if he will make a statement.
§ Mr. Peter WalkerFor information on the Welsh Development Agency's input I refer the hon. Gentleman to the reply I gave him on 9 May 1988.
EC resources in the form of European regional development fund grants are not passed directly to individual companies. When an investment proceeds as planned, ERDF is retained centrally as partial reimbursement for United Kingdom regional aid assistance already awarded.
As regards the financial involvement of Investors in Industry, I suggest that the hon. Gentleman seeks the information required from the company itself.
The receiver remains optimistic that Datamagnetics can be sold as a going concern.