§ 58. Mr. Blenkinsopasked the Parliamentary Secretary to the Admiralty to 1195 what extent he has discussed with the shipbuilding industry the prospects of securing orders from the Union of Soviet Socialist Republics, and the credit facilities that might be offered for this purpose.
§ Mr. T. G. D. GalbraithDiscussions took place between Her Majesty's Government and the Shipbuilding Conference immediately prior to the dispatch of the recent trade mission to Moscow. The mission was aware of the United Kingdom industry's present ability to undertake orders for the union of Soviet Socialist Republics subject to agreement of suitable conditions of contract. The question of credit facilities by United Kingdom firms is a matter for the industry concerned and its bankers and other financial institutions.
§ Mr. BlenkinsopIs the hon. Gentleman aware of the very large orders recently placed with West German yards on extended credit facilities? Is it not highly desirable that some further inquiries should be made about the desirability of extending similar facilities to British shipbuilders?
§ Mr. GalbraithI certainly have not had any representations along those lines. I think that British shipbuilders would not wish to enter into a credit race with other countries.