HC Deb 11 July 1967 vol 750 c45W
55. Dame Irene Ward

asked the Minister of Technology if he will state the administrative procedure being applied under Section 7 of the Shipbuilding Industry Act in relation to marine engineering which will ensure that the interests of competitive supplying industries in this country are not harmed.

Mr. Dell

When the whole content of the ship is British, the guarantee will normally cover a loan for 80 per cent. of the contract price.

The guaranteed loan will be reduced pro rata to the extent to which the ship incorporates any imported equipment for which a satisfactory United Kingdom equivalent is available and, irrespective of United Kingdom availability, will be reduced accordingly if the total of imported content exceeds 20 per cent.