§ Mr. Tilney
asked the Secretary of State for the Environment what assistance will be available for the rationalisation of cargo handling operations in the port of Liverpool.
§ Mr. Peyton
My right hon. Friend the Minister for Industrial Development has agreed after consultations with myself to make available to the Mersey Docks and Harbour Co. financial assistance under Section 7 of the Industry Act 1972 in connection with the acquisition of the assets of three cargo-handling companies and subsequent rationalisation. This consists of a loan not exceeding £1.75 million for working capital and grant not exceeding £1.75 million towards any losses arising in the initial period of rationalisation up to the end of June 1973. The possibility of further assistance beyond that date will also be considered. In addition I am prepared to make a loan of up to £617,000 under Section 11 of the Harbours Act 1964 for the purchase of fixed assets.