Shipbuilders (Credit Facilities)

HC Deb 02 February 1976 vol 904 cc459-60W

37. Mr. Willey

asked the Secretary of State for Trade what steps he is taking to ensure that British shipbuilders tendering for foreign orders are able to offer credit facilities matching those being offered by their competitors.

Mr. Deakins

There is an OECD understanding between the world's major ship exporting countries on the maximum credit terms for exported ships. Support from ECGD is available to British shipbuilders within the terms of this understanding. We believe that this enables them to offer credit facilities which are fully competitive with the facilities offered by foreign builders. ECGD already investigates alleged breaches of the OECD understanding and, if substantiated, would be prepared to consider providing support on a matching basis. Thus, further steps do not at present seem to be necessary.