HC Deb 15 July 1971 vol 821 c708
19. Mr. Douglas

asked the Minister of State for Defence how much of the £4.5 million loan to Yarrow (Shipbuilders) Limited has been taken up.

Mr. Ian Gilmour

The figure is £3.7 million.

Mr. Douglas

Will the Minister concede that the mere granting of this loan has had a salutary effect in saving this portion of Upper Clyde Shipbuilders? Will he not prevail on his right hon. Friend the Secretary of State for Trade and Industry to be as generous, if not more so, in saving the whole of the consortium?

Mr. Gilmour

The loan to Yarrow was extremely valuable, and it is my understanding that over the years a great deal more money has been lent or given to U.C.S. The second part of the hon. Gentleman's question is not a matter for me.

Mr. John Morris

I also welcome the fact that money has been injected into Yarrows, which is a first-class shipbuilding yard. However, is it not a rather odd arrangement that the Ministry of Defence is injecting the money rather than the Treasury? In view of the fact that the Government, like Ceasar's wife, must be above suspicion, how will the hon. Gentleman satisfy other shipbuilders in other parts of the country that they will have a fair crack of the whip?

Mr. Gilmour

I am sure that other shipbuilders in other parts of the country have complete confidence in our fairness.

Forward to