§ Mr. Morgan
To ask the Secretary of State for Wales what consultations he has had with the chairman of the Welsh Development Agency in relation to his Department's agreement to the agency's three-year business plan with reference(a) to its projections of projected capital expenditure and (b) its conditionality on receipt of increased levels of grant from the European regional development fund.
§ Mr. Redwood
[holding answer 17 March 1995]: I met the chairman and board of the agency on 1 November 1994 to discuss its draft corporate plan. The agency quite properly plans its activities with reference to a number of factors, including the sale of capital assets and anticipated funding. In the event that the agency is more or less successful with its project bids for ERDF, the agency would need to adjust its levels of gross expenditure accordingly. Those ERDF projects are additional to the programme financed by grant-in-aid and asset receipts.