§ Sir Bernard BraineTo ask the Secretary of State for Foreign and Commonwealth Affairs whether, in view of the improvement in telecommunications with St. Helena, steps can now be taken to establish commercial banking facilities.
§ Mr. SainsburyWe are committed to strengthening the private sector on St. Helena. Since improvements in St. Helena's telecommunications and communications links were first planned, we have approached a number of commercial banks to see if they would be prepared to establish a branch on St. Helena. None has yet decided to do so. We are also considering other ways of introducing banking facilities, for example the establishment of a development finance institution which might include a banking function.
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§ Sir Bernard BraineTo ask the Secretary of State for Foreign and Commonwealth Affairs what plans have been formulated to improve transportation by sea and air to St. Helena and its dependencies.
§ Mr. SainsburyA number of improvements are being made. St. Helena's only regular, though infrequent, link with the outside world is a passenger/cargo vessel built in 1963, which Her Majesty's Government subsidises. The vessel also serves St. Helena's dependencies of Ascension and Tristan da Cunha. Because of its age, the ship is shortly to be replaced by a larger, purpose-built vessel, built at a Scottish yard, which is expected to enter service in late summer. In addition, it has been decided to commence a weekly shipping shuttle, subsidised by Britain, between St. Helena and Ascension Island.