§ 39. Mr. Gilroy Bevanasked the Secretary of State for Transport what estimate he has made of the implications for the shipping industry of the extension, announced in the Budget Statement, of the business expansion scheme to ship chartering.
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§ Mr. RidleyThe extension of the business expansion scheme to cover ship chartering has been sought consistently for some time by the shipping industry, particularly through the General Council of British Shipping. United Kingdom operators—particularly in the coastal, short sea and offshore trades—have considered that they have been at a disadvantage because similar schemes have been available to some of their continental competitors. In pressing its case, the industry has not made detailed estimates of the impact value of the extension, and indeed it is at this early stage difficult to make such an estimate. But I am very hopeful of a substantial response to the scheme, which should provide new opportunities for sound investment in these trades.