§ Mr. Trotter
To ask the Secretary of State for Trade and Industry whether he will make a statement as to the financial outcome of the Danish order for ferry boats which was placed with North East Shipbuilders Ltd.
§ Mr. Douglas Hogg
The financial outturn on this contract at North East Shipbuilders Ltd remains subject to final audit and to the terms of sale of the last three ferries remaining from the order. Subject to that, the net losses on the contract are estimated to be of the order of £40 million. This includes the cost of cancellation of nine of the ships from the original order.