HC Deb 02 July 1974 vol 876 cc141-2W
Mr. Eldon Griffiths

asked the Secretary of State for Industry whether, before deciding to nationalise Court Shipbuilders, he held discussions with the banks and other interested companies with a view to a rescue operation being mounted at less expense to the taxpayers.

Mr. Benn

The group's needs were too large and too immediate for anything but Government help to be effective. However, the National Westminster Bank has agreed to make to Court Line a loan parallel in amount and conditions to that which the Government have promised.

Mr. Bagier

asked the Secretary of State for Industry whether he will now make a further statement on the negotiations with Court Line Limited.

Mr. Benn

I would refer my hon. Friend to my reply to my hon. Friend the Member for South Shields (Mr. Blenkinsop) on 1st July.