§ Dame Irene Wardasked the Secretary of State for Trade and Industry whether he can now reply to the proposal for investment grants for shipping which has been put to him by the United Kingdom Chamber of Shipping and the Shipbuilders and Repairers National Association; and if he will make a statement.
§ Mr. John DaviesAfter careful examination of these proposals I have concluded that the reintroduction of a general scheme of investment grants for shipping is not economically justifiable in present circumstances. I do, however, want to use my selective powers under the Science and Technology Act, 1965 and the Industry Bill—when enacted—to encourage closer collaboration between British shipowners and shipbuilders, to assist the modernisation of British shipyards, and generally to improve the efficiency of both industries. With these objects in mind I intend to consult the industries further as soon as possible.