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Shipbuilding (Cost Escalation Scheme)

Volume 983: debated on Wednesday 23 April 1980

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asked the Secretary of State for Industry if he will make a statement on the future of the cost escalation scheme for ships.

The Government have decided that, in view of the support for merchant ship orders through the intervention fund, the cost escalation scheme for merchant ships should cease. The date of termination is still under review but it will be not later than the end of June this year.Warship export orders do not receive support through the intervention fund and they will be eligible for the general cost escalation scheme administered by ECGD.