§ Lord GainfordMy Lords, I beg leave to ask the Question which stands in my name on the Order Paper.
§ The Question was as follows:
§ To ask Her Majesty's Government whether the British shipbuilding industry has reduced its trading loss in the past year.
§ Lord Cullen of AshbourneMy Lords, the accounts for 1981–82 are currently being prepared, but on British Shipbuilders' present estimates their trading loss for that year will be within their loss target of £25 million which is well below their trading loss of £41 million for 1980–81.
§ Lord GainfordMy Lords, I thank my noble friend the Minister for that Answer. Does he have any information on the orders received by companies that build smaller vessels and on whether those orders are enabling those companies to break even, even if they are not showing an actual profit?
§ Lord Cullen of AshbourneMy Lords, British Shipbuilders, in order to get Intervention Fund assistance, are required to give the Department of Industry an assurance in respect of each order that the order is being taken at break even. Financial assistance in respect of individual contracts is available to all shipbuilders in the United Kingdom, in both the private and the public sectors.