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Shipbuilding (Credit Facilities)

Volume 649: debated on Tuesday 21 November 1961

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asked the Chancellor of the Exchequer what proposals he now has for improving the facilities available for credit financing for British exporters, particularly those engaged in heavy industry such as shipbuilding.

Will the Chancellor say whether we may expect some definite statement from him? Is he aware that there is increasing concern among exporters and particularly in the shipbuilding industry over this matter, and quite definite charges have been made that British shipbuilders are very much worse off than many of their competitors abroad, despite the Peat, Marwick, and Mitchell report? May we have something definite soon; if not a definite Government proposal, at least some fuller statement of the facts?

I think that the hon Gentleman, with his experience of this matter, knows how extremely complicated it is. I will certainly make a statement as soon as possible.