Part of Oral Answers to Questions — Trade and Industry – in the House of Commons at 12:00 am on 23 January 1991.
Contrary to what the hon. Gentleman says, it is in the interests of the United Kingdom shipbuilding industry for subsidies to be reduced. That is why we argued for a reduction in the intervention funding and why it has been agreed to reduce it from 20 per cent. to 13 per cent. for large ships and to 9 per cent. for small ships. That reduction is in the interests of the United Kingdom because we have led the way in restructuring European shipbuilding. It will be particularly helpful to warship-building yards such as Cammell Laird and Swan Hunter.