HC Deb 14 January 1994 vol 235 cc307-8W
Mr. Burns

To ask the President of the Board of Trade whether the European Commission has agreed to allow Swan Hunter to have access to the shipbuilding intervention fund.

Mr. Sainsbury

Following protracted negotations, the European Commission agreed on 21 December to allow Swan Hunter to have limited access to the shipbuilding intervention fund. The sum agreed is £7 million for up to three contracts to be offered during 1994 and 1995. This concession should enable Swan Hunter to compete more effectively for merchant contracts and so make them more attractive to potential buyers.