HC Deb 09 November 1988 vol 140 c212W
Mr. Jim Marshall

To ask the Secretary of State for Northern Ireland if he will make a statement on(a) the precise reasons why his recent negotiations with Mr. Ravi Tikkoo broke down and (b) the efforts presently being made by his Department to help secure the Ultimate Dream cruise liner order for Harland and Wolff.

Mr. Viggers

For reasons of commercial confidentiality, I am unable to elaborate on why negotiations broke down with Mr. Tikkoo. I can confirm that the Government were willing to make very substantial public funds available, in addition to full intervention aid, to enable Mr. Tikkoo to acquire the yard and to construct the Ultimate Dream. Unfortunately, Mr. Tikkoo did not feel able to proceed on the basis proposed.

The Government are committed to returning Harland and Wolff to the private sector. It will be up to the new owners to win orders for the yard under terms with which they are content. Requests by a privately owned Harland and Wolff for intervention aid for the Ultimate Dream or other merchant contracts will be considered within the limits permitted by the United Kingdom Government and the EC at that time.