§ 24. Mr. Willeyasked the Chancellor of the Exchequer whether he will make a statement on the provision of credit facilities for the building of new ships in the United Kingdom.
Mr. AmoryI have no evidence that United Kingdom shipbuilding is being hampered by lack of credit facilities.
§ Mr. WilleyHas the Chancellor seen the developments taking place recently in Western Germany? In view of this, so that our shipyards are not unduly prejudiced by accentuated competition, we must keep an eye on the question of credit facilities.
Mr. AmoryCertainly I shall be glad to consider any evidence of our shipbuilding industry—just as much as I would of any other of our important industries—showing that it is handicapped by lack of credit facilities. Any evidence the hon. Member has I should be glad to see.
§ Dame Irene WardHas my right hon. Friend the same approach to dry dock owners, as the Amendment we moved to the Finance Bill was rejected and this does indicate a change of heart on his part which would be very welcome?
Mr. AmoryI think my hon. Friend will discover that her question is not really related to the Question we are now considering.
§ Mr. ShinwellIs it not the case that shipowners are not being handicapped through lack of credit facilities but because of the rate of interest on the loans they seek to obtain? Is he aware that Japanese shipbuilders are now making demands on their Government for a reduction in the interest on loans and, if 1012 that should occur, it will react unfavourably on British shipbuilding?
Mr. AmoryIt would, but perhaps the Japanese Government, like the United Kingdom Government, do not agree to every suggestion and recommendation made to them.