§ 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.