§ 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.