§ 49. Sir C. Osborne
asked the Minister of Technology how much public money has now been loaned to, invested in, or guaranteed to the Fairfield Shipbuilding Company; what return it is earning; and when it will be repaid.
§ Sir C. Osborne
Is the experiment now earning a profit? Is the money to be repaid, or will it be lost? If the experiment is successful, will the Minister pass on the idea to other Government Departments which are making losses?
§ Mr. Rankin
Is my right hon. Friend aware that a few weeks ago the Fairfield Shipbuilding Co. declared a profit of 30 £300,000 for 1967? Is he further aware that if the U.C.S. follows the Fairfield method it, too, will show profits?
§ Mr. Benn
There is no doubt whatsoever that the work done at the Fairfield yard under the arrangements introduced by the Government permitted a yard which would otherwise have died to restore the morale of the workers and introduce new methods. This experience is now available in the Upper Clyde Shipbuilding Group.