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Shipbuilding (Intervention Fund)

Volume 84: debated on Monday 21 October 1985

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asked the Secretary of State for Trade and Industry if he will indicate the level of intervention fund allowable on each vessel built in the United Kingdom following the European Economic Community 5th directive on shipbuilding.

Shipbuilding Intervention Fund is a form of selective financial assistance and is paid at the minimum level necessary to secure individual contracts. As regards the general levels allowable, I refer the hon. Member to the answer given by my hon. Friend the Member for Kingston upon Thames (Mr. Lamont) on 5 July to my hon. Friend the Member for Aberdeen, South (Mr. Malone).

asked the Secretary of State for Trade and Industry how much money will be made available from the shipbuilding intervention fund to United Kingdom shipbuilders in the coming financial year.

On present estimates £43 million will be made available in 1985–86 for grants under the Shipbuilding Intervention Fund in Great Britain, but the actual amount paid will depend on contracts secured.