§ 41. Mr. Willey
asked the Minister of Technology what is the total net amount of the guarantees recommended by the Shipbuilding Industry Board under Section 7 of the Shipbuilding Industry Act, 1967.
§ 52. Mr. David Price
asked the Minister of Technology how far the £400 million made available under Section (1) of the Shipbuilding Industry Act, 1967, as 34 guarantees to aid the financing of shipbuilding in the United Kingdom is now committed and whether he proposes to introduce amending legislation to raise the financial ceiling for the aforesaid guarantees.
§ Mr. Willey
As this has proved the cheapest and most effective way of helping shipbuilding, will my right hon. Friend give it favourable consideration and introduce amending legislation as soon as he can?
§ Mr. David Price
Will the Minister bear in mind that I warned him and all his Ministers that if the British shipbuilding industry was to achieve the Geddes target of 2½ million compensated tons a year, the credit scheme would peak well above £400 million, but his junior Minister flatly refused to believe me? I have been proved right.
§ 42. Mr. Willey
asked the Minister of Technology whether he will make a statement on the study of productivity being initiated by the Shipbuilding Industry Board.
§ Mr. Willey
As the board expressed disturbance and disappointment about the competitive position of the industry, will my right hon. Friend encourage the board to press this ahead as quickly as it can, because this is essential for the industry to hold its own against world competition?