§ Dame Irene Wardasked the Secretary of State for Trade and Industry whether he will make a statement about Government assistance to Sunderland Shipbuilders.
§ Mr. ChatawayMy Department has offered and Sunderland Shipbuilders have accepted a loan of £9 million under Section 7 of the Industry Act 1972. The loan will be for rebuilding and modernising, at a total cost, including capital and working capital, of £22 million, the company's yard at Pallion and making improvements at its other yards at Deptford and North Sands. It will be within the guidelines I laid down in my statement of 23rd July.