Mr. Edward M. Taylor
asked the Minister of Technology what effect the increase in Bank Rate will have on the credit terms which shipbuilders can offer through the provisions of the Shipbuilding Industry Act.
§ Mr. Benn
The increase in the Bank Rate does not affect the cost of credits guaranteed by the Minister under Section 7 of the Act.
£'000 Calendar Years Grants for Disaster Relief Development Loans Technical Assistance Gross Total 1964 … … 18 9,240 876 10,134 1965 … … 22 9,051 890 9,963 1966 … … — 9,822 920 10,742 1967 (estimate) … — 11,000 900 11,900
The above figures do not include grants contributed to the Indus Basin Development Fund which, for the period 1964 to 1966 totalled £9,036,000 and are expected to total £11,676,000 by the end of 1967.
I am not sure what type of contracts my hon. Friend has in mind. If, as may be the case, he is thinking of trade arrangements, these are of course a matter for my right hon. Friend the President of the Board of Trade.