HC Deb 26 July 1979 vol 971 cc367-8W
Mr. Colvin

asked the Secretary of State for Industry whether he has made a determination of the financial duties of British Shipbuilders as outlined in the statement to the House on 23 July.

Mr. Adam Butler

Yes. My right hon. Friend, in accordance with section 10 of the Aircraft and Shipbuilding Industries Act 1977, has made, with the approval of the Treasury and after consulting British Shipbuilders, a determination of the financial duties for British Shipbuilders which sets for the current financial year a trading loss limit of £100 million after intervention fund assistance, and £90 million before crediting intervention fund assistance for 1980–81 as indicated in my statement on shipbuilding on 23 July. A copy of the determination has been placed before each House of Parliament.

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