§ Miss Emma NicholsonTo ask the President of the Board of Trade what is his Department's policy on implementation of the EC decision on the level of shipbuilding intervention funding.
§ Mr. HeseltineFollowing the decision of the European Commission, notified to member states on 18 Janaury 1993, I have decided to maintain the maximum level of support for large merchant ships at 9 per cent. for 1993. I have similarly decided that maximum support for small ships will be maintained at 4.5 per cent. These levels, which are the maximum permitted by the European Commission, are inclusive of shipbuilder's relief at 2 per cent.