HL Deb 27 January 1981 vol 416 cc628-9

2.56 p.m.

The Earl of Mansfield

My Lords, I beg to move that this Bill be now read a third time.

Moved, That the Bill be now read 3a.—(The Earl of Mansfield.)

Lord Boothby

My Lords, I wish only to say that I had the privilege of opening the new fish market in Peterhead Harbour 10 years ago, with the understandable result that it has since become the most prosperous fishing harbour in Scotland. I therefore warmly welcome the Bill.

Lord Ross of Marnock

My Lords, I do not want to compete in the opening of harbours, but less than 10 years ago I, too, opened not the fishery part of the harbour, but that part that was timeously built for the oil industry. I am concerned that, whereas the total of the existing authorised borrowing is £648,000, the new limit is: such sums of money as they think necessary not exceeding in the aggregate £10,000,000". In addition to that, it says that the trustees can borrow any other sums: with the consent of the Secretary of State …as they may require ". That is a very big jump. If it means that something of a very big nature is to be dealt with at this particular point, I should be delighted to hear it. We have all heard the news today—certainly those in Scotland who are interested in unemployment—that unemployment there has risen to the fantastic, staggering extent of 286,000. If there is to be work involving Peterhead and affecting the harbour, with sums of money like this involved, I think that we should be very delighted to hear about it. Can the Minister of State tell us something about that?

The Earl of Mansfield

My Lords, the last occasion upon which the powers of the trustees to borrow money were raised, was 1921, and therefore the sum which is now sought as a limit in this Bill has, of course, increased with inflation. I can tell the noble Lord, Lord Ross, that the trustees have no immediate need to borrow and, indeed, no particular intention of borrowing sums which will in any way approximate to £10 million. I can also tell the noble Lord that the trustees are in the final throes—if that is the right word—of finalising proposals for a three stage harbour development, which will include roads, some land reclamation, a boat lift and a yard. The consulting engineers estimate that this will cost some £3.7 million by the projected completion date in mid-1984. I hope, therefore, that the House will agree that this increase in the borrowing powers on the part of the trustees is reasonably modest, considering how long it has been since the matter was last considered by your Lordships' House.

On Question, Bill read 3a, and passed.