Part 8: Other Enterprise-Related Provisions Industrial Development Section 34: Allowable assistance under Industrial Development Act 1982
Under section 8 of the Industrial Development Act 1982, the amount of financial assistance that can be given to a project under section 8 of the Industrial Development Act 1982 without a resolution of the House of Commons is £10 million. This section increases the threshold from £10 million to £30 million. This increase reflects UK inflation since 1982.
	The amendment to the project cap in section 8 of the Industrial Development Act 1982 will extend and apply to the United Kingdom as a whole.
	The power in section 8 of the Industrial Development Act 1982 is exercisable by the Secretary of State concurrently with Welsh and Scottish Ministers. Scottish Ministers are only able to exercise the power within devolved competences. Scottish and Welsh Ministers exercising the power are bound by the project cap in section 8(8). Scottish Ministers do not wish to benefit from the proposed increase in the amount which can be spent before a House of Commons resolution is required. Welsh Ministers will benefit from the increase in the project cap.