HC Deb 08 February 1963 vol 671 cc105-6W
Mr. Stratton Mills

asked the Minister of Aviation under what arrangements Government financial assistance is to be provided for Short Brothers and Harland.

Mr. Amery

The Government have decided, in conjunction with the Government of Northern Ireland, to provide Short Bros. and Harland with the financial help which they need while they are completing orders for Belfast aircraft and Seacat missiles. The total aid may be as much as 10 million, of which up to £7½ million would be provided by the United Kingdom Government and up to £2½ million by the Government of Northern Ireland.

Payments will be made as needed, starting before the end of this financial year. A Supplementary Estimate for this purpose is being laid before the House. In anticipation of parliamentary approval of the relative Estimates, advances will, if necessary, be made from the Civil Contingencies Fund.

A condition of this grant will be that, at the end of the company's financial year in which the last of the 10 Belfasts already ordered for the R.A.F. is delivered, the company's financial position will be reviewed again. They will then be liable to repay to the two Governments, in proportion to their respective contributions, any amount by which the payments actually made exceed the company's losses.