§ Lord Harvey of Prestburyasked Her Majesty's Government:
What steps are being taken to pay fair and proper compensation to shipbuilding companies which were nationalised by the previous Government, many of whom have received only token payments.
The Earl of GowrieAgreed settlements totalling £67.26 million have now been reached, and the appropriate compensation stock issued, in respect of 18 of the 21 shipbuilding companies nationalised by the Aircraft and Shipbuilding Industries Act 1977. Arbitration is in progress on two companies, and negotiations continue with regard to one company. Payments on account amounting to £2.45 million have been made in respect of these three outstanding cases.