Mr. Alan WilliamsTo ask the Secretary of State for Wales what financial provision is made for regional development grants in his estimate of the cost of the valleys initiative.
§ Mr. Peter Walker[holding answer 20 June 1988]: Applications for regional development grants received in the last 15 months from the valleys programme area involved investment of about £620 million. On the basis of applications and approvals currently outstanding, and the average payments that experience indicates will result from these, I would expect regional development grant payments to be of the order of £70 million over the next three years.