Shipbuilding Industry

Oral Answers to Questions — Technology – in the House of Commons at 12:00 am on 13 July 1970.

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Photo of Mr Gregor Mackenzie Mr Gregor Mackenzie , Rutherglen 12:00, 13 July 1970

asked the Minister of Technology if he will make an early statement on the level of Government assistance to the shipbuilding industry.

Photo of Hon. Nicholas Ridley Hon. Nicholas Ridley , Cirencester and Tewkesbury

The Shipbuilding Industry Act 1967 provided for a capital injection into the industry of up to £20 million in grants and £32½ million in loans. It also enabled us to guarantee commercial loans up to a limit of £400 million outstanding at any one time for ships ordered by British shipowners from British yards. Shipbuilders are also eligible for 2 per cent. Shipbuilders Relief.

Photo of Mr Gregor Mackenzie Mr Gregor Mackenzie , Rutherglen

Will the hon. Gentleman ignore the advice given him by some of his hon. Friends that further aid to Upper Clyde Shipbuilders would be economic nonsense? Bearing in mind the thousands of people who depend on U.C.S. for their livelihood, will he do all that he can to ensure its future as a viable concern?

Photo of Hon. Nicholas Ridley Hon. Nicholas Ridley , Cirencester and Tewkesbury

I am not aware of any request for assistance from Upper Clyde Shipbuilders.