§ 65. Mr. Douglas
asked the Secretary of State for Trade and Industry if he will make a statement on the progress of negotiations regarding the future of the Clydebank Division of Upper Clyde Shipbuilders.
§ 66. Mr. Bruce-Gardyne
asked the Secretary of State for Trade and Industry if he will make a statement on the outcome of his discussions with Mr. Harbin of Marathon Manufacturing.
§ Mr. Chataway:
We have reached agreement with Marathon Manufacturing Company about the basis on which
1966 1967 1968 1969 1970 1971* (£ million) Direct investment By United Kingdom in EEC countries† … … … 51 30 73 105 71 100 By EEC countries in United Kingdom‡ … … … 9 47 25 35 47 50 * Provisional. †Excluding oil companies. ‡ Excluding oil and insurance companies.
§ Mr. Joel Barnett
asked the Secretary of State for Trade and Industry if he is aware of the concern in the Lancashire textile industry regarding the outcome of the negotiations with the European Economic Community on the question of cotton yarn; whether such yarn will be able to be imported free from duty or quantitative restrictions from anywhere in the world, as it is being regarded as a raw material; and if he will make a statement.
§ Mr. Noble:
The industry has told my Department of its views on this subject. Cotton yarn is on the EEC's common liberalisation list. Thus, on our accession to the Community we will have an obligation not to restrict imports from any18W
assistance would be available to the company for its Clydebank project. This will include assistance recommended by the Local Employment Act Financial Advisory Committee. The extent and terms of this assistance has been determined in accordance with the committee's established criteria, and are, as in all such cases a matter of commercial confidence. The company will also qualify for the grants described in the White Paper on "Industrial and Regional Development" (Cmnd. 4942). Marathon Manufacturing Company's final decision to proceed will depend upon reaching satisfactory arrangements with the trade unions and shop stewards concerned.