§ 43. Mr. Wallasked the Minister of Agriculture, Fisheries and Food if he will make a statement on the proposed reorganisation of the deep-water section of the British fishing industry; and what representations he has had from the White Fish Authority and the various sections of the industry.
§ Mr. HoyYes, Sir. Associated Fisheries and the Ross Group have today announced that the trawling, but not the other, interests of these two companies are being merged in a new company on whose board the Industrial Reorganisation Corporation will nominate a director. My right hon. Friend the President of the Board of Trade has decided that this is not open to the objection the Monopolies Commission saw in 1966 to a merger of all the interests of those two companies.
479 We welcome this outcome of the I.R.C.'s work and the prospect of improved efficiency which it has opened up.
§ Mr. WallWill the Government make a financial contribution in this merger? What effect will it have on the smaller trawling firms?
§ Mr. HoyNo Government finance is involved. The merger will be done through the I.R.C. We cannot forecast what effect it will have on small firms, but we hope—and I am sure that the hon. Gentleman agrees—that it will make for a better and more efficient British fishing industry.
§ Mr. James JohnsonDoes my hon. Friend agree that the future of the deep-sea fishing fleet lies in bigger units and more efficient skippers and men, with mergers of this kind and the consequent injection of capital into the industry?
§ Mr. HoyI agree. I am sure that the merger will make for greater efficiency and greater opportunities. The opportunity has been taken of looking after the interests of the employees of both firms in the merger.