§ 64. Mr. P. Williams
asked the Minister of Transport what are the results of the scheme for providing finance for the placing of new orders for ships; and what long-term plans he has for the sustenance of British shipping and shipbuilding interests.
§ Mr. Marples
Some 800,000 gross tons of shipping will be built in United Kingdom shipyards under the Shipbuilding Credit Scheme. The £75 million allotted for the scheme has been taken up, and no new applications for loans will be accepted.
As to the long term, our shipping and shipyards owe their present position to successful competition in world markets largely free from Government subsidy and protection, and Government policy will continue to be to preserve the maximum international freedom.