HC Deb 05 November 1991 vol 198 c65W
Mr. David Evans

To ask the Secretary of State for Trade and Industry if he will make a statement on British Shipbuilders' external financing limit for 1991–92.

Mr. Leigh

British Shipbuilders' external financing limit for 1991–92 was set at £5.8 million as recorded in the Government's expenditure plans 1991–92 to 1993–94 published in February 1991. I am now able to announce a reduced EFL for 1991–92 of £3.6 million which amounts to a net improvement of £9.4 million. This is principally due to the release of the provision of legal fees totalling £6 million following the out-of-court settlement of the Scott Lithgow dispute in March 1991 and the deferred receipt of asset sales at North East Shipbuilders Ltd. (NESL) which included £2.075 million from the sale of Pallion, the only remaining NESL yard.