HC Deb 19 May 1919 vol 116 cc36-7
78. Sir C. HENRY

asked the Parliamentary Secretary to the Shipping Controller if he will state the terms upon which the national shipyards at Chepstow were offered to the Federation of Engineering and Shipbuilding Trades of the United Kingdom?

Colonel WILSON

As the full terms are somewhat lengthy I will, with the permission of the House, publish them in the Official Report. I will also take the opportunity of referring to them during the Debate this afternoon.

The following is the statement of the terms:

  1. 1. That the national shipyards at Chepstow and Beachley be sold to the trades unions of the shipbuilding and engineering industries at a price to be agreed upon.
  2. 2. That the whole amount of the purchase price be paid in the following manner, 37 and until paid off be secured by a second mortgage debenture at a rate of interest to be agreed; that the purchase price be paid on such sum and at such intervals as the unions may elect, providing always that the unions shall pay an annual instalment of not less than £ (an amount to be agreed).
  3. 3. That the company to be formed may borrow from outside sources such sum or sums of money as shall be deemed requisite for the carrying out of the business, such sum or sums to be secured by first mortgage debentures.
  4. 4. That the Government undertake to hand over the yards in. such a condition as shall render the yards fit to be worked upon a commercial basis, any sum spent on this work to be added to the price to be agreed upon under paragraph 1.
  5. 5. That the Power House of Beachley be excepted from the proposed transaction, subject to suitable arrangements being made for the supply of power to the yards.
  6. 6. That the unions undertake that the hours, rates and conditions of labour shall be the same as those prevailing from time to time for constructional work in the North-East Coast district.

79. Sir C. HENRY

asked the Parliamentary Secretary to the Shipping Controller if he will state if the Disposal Board of the Ministry of Munitions was consulted before the offer of the national shipyards at Chepstow was made to the Federation of Engineering and Shipbuilding Trades of the United Kingdom?

Colonel WILSON

No, Sir.