§ Mr. Maclennan
asked the President of the Board of Trade what steps he is taking to modify the terms of the loan made by his department to Wiggins Teape Limited under the Fort William Pulp and Paper Mills Act 1963.
§ Mr. Dell
In view of the difficulties encountered by Wiggins Teape in bringing the Fort William Mill into production, we have agreed to defer by three years the capital repayments of the £8 million loan we have made. We have also agreed to extend by three years the period during which Wiggins Teape may make application for a further loan of up to £2 million for Stage II of the Fort William project. A copy of an Agreement giving effect to these new arrangements is being laid before each House of Parliament in accordance with Section 1(4) of the Fort William Pulp and Paper Mills Act 1963.