§ Mr. Skeetasked the Secretary of State for Industry, with the injection of further state funds in Harland and Wolff of Belfast, what will be the size of the State holding in the company.
§ Mr. OrmeI have been asked to reply.
It is the Government's intention, subject to shareholders' approval, to provide finance for Harland and Wolff Ltd. by acquiring a substantial majority of the company's shares. This would be effected by expanding the equity rather than by the purchase of shares from existing shareholders. It is not possible to give the exact size of the proposed shareholding in either percentage or money terms until the detailed arrangements have been worked out.