§ Mr. Bishopasked the President of the Board of Trade, what assistance has been made available under the Distribution of Industry Acts, the Local Employment Acts and the Shipbuilding Credit Act each year since 1950, either directly or indirectly, with a view to helping the shipbuilding and ship-repairing industries; and what control is exercised by his Department over the spending of such public moneys.
§ Mr. MasonThe information requested is as follows:
ASSISTANCE OFFERED TO SHIPBUILDING AND SHIP-REPAIRING FIRMS UNDER THE DISTRIBUTION OF INDUSTRY ACTS 1950–58 1958–59 1959–60 £'000 … … Nil 1,113 3,250
ASSISTANCE OFFERED TO SHIPBUILDING AND SHIP-REPAIRING FIRMS UNDER THE LOCAL EMPLOYMENT ACTS, 1960 AND 1963 1960–61 1961–62 1962–63 1963–64 1964–65 £'000 135 Nil 1,294 1,542 2,707 This expenditure under the Distribution of Industry Acts was provided for in the Treasury Vote. Expenditure under the Local Employment Acts is provided for in the Board of Trade Vote: the Appropriation Account is audited by the Comptroller and Auditor General in the normal way.
ASSISTANCE OFFERED TO SHIPOWNERS UNDER THE SHIPBUILDING CREDIT ACT, 1964
Under this Act £75 million was made available as loans to British shipowners to finance the building of new ships in British shipyards.
Payments made so far are: 1964–65 1965–66 (to date) £'000 … … 21,033 24,871 Loans, repayable over periods of up to 10 years were offered by the Minister of Transport who was advised by an independent Shipbuilding Credit Advisory Committee. Loans are paid to shipowners on the delivery of the respective vessels on the evidence of auditors' certificates indicating the moneys spent on them. In all cases the loans have been secured by first mortgages on the vessels. The Scheme was closed to further applications at the end of October, 1963. No direct payments are made to shipbuilders.