Distribution of Industry (Financial Provisions) Act, 1958

Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 30 April 1959.

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Photo of Mr Percy Wells Mr Percy Wells , Faversham 12:00, 30 April 1959

asked the Chancellor of the Exchequer how many applications for loans or grants have now been made under the provisions of the Distribution of Industry (Financial Provisions) Act, 1958; how many have been granted; what sum is involved; and what is the average time taken far the Development Areas Treasury Advisory Committee to reach a decision.

Photo of Mr Frederick Erroll Mr Frederick Erroll , Altrincham and Sale

Two hundred and fifty-one firm and eligible applications have been received under this Act of which 38 have so far been granted. The total sum offered as assistance amounts to £1,039,620. The time taken to investigate and reach a decision on each application depends on the nature of the proposals. It may be as short as a month or extend over three or more months.

Photo of Mr Percy Wells Mr Percy Wells , Faversham

Can the hon. Gentleman say how many of these applications refer to firms contemplating going to the Isle of Sheppey and whether he has received complaints from any of them about the unreasonable delay in reaching a decision on their applications?

Photo of Mr Frederick Erroll Mr Frederick Erroll , Altrincham and Sale

I shall be glad to furnish the hon. Gentleman with information regarding the Isle of Sheppey if he will put down a Question. Some firms feel that the time taken is rather long, but when it is explained to them why investigations have to be so thorough, they usually understand the need for the time taken.

Photo of Mr Douglas Jay Mr Douglas Jay , Battersea North

Can the hon. Gentleman state roughly to which areas these thirty-eight approvals relate?

Photo of Mr Frederick Erroll Mr Frederick Erroll , Altrincham and Sale

I do not think I could do that off the cuff, but I should be glad to answer a Question if the hon. Gentleman will put one down.