HC Deb 30 March 1984 vol 57 c344W
Mrs. McCurley

asked the Secretary of State for Trade and Industry what limits have been set on the external financing of British Shipbuilders for the financial year 1984–85.

Mr. Norman Lamont

In view of the reorganisation of British Shipbuilders into two main divisions, warshipbuilding and a merchant and composite division, and of the impending privatisation of the warshipbuilding yards, the Government will from now on be setting a separate external finance limit for the warshipbuilding division of British Shipbuilders.

Following consultation with the industry, the following limits have been set for 1984–85:

£ million
Warshipbuilding 80
Rest of corporation 137

These take account of the revised rate of national insurance surcharge from 1 October 1984 announced in the Budget.