HC Deb 27 April 1995 vol 258 cc662-3W
Mr. Davidson

To ask the President of the Board of Trade what is his Department's policy on support for the shipbuilding industry from 1 January 1996. [20733]

Mr. Eggar

With the exception of the shipbuilding intervention fund and the home credit guarantee scheme, no changes are planned to the Department's policies on the shipbuilding industry after 1 January 1996.

The shipbuilding intervention fund scheme will be abolished from that date. The United Kingdom will abide by the terms of the OECD's agreement respecting competitive conditions in the commercial shipbuilding and repair industry, signed in December 1994, which abolishes all direct subsidies to these industries on a multilateral basis. However, payments made under commitments entered into before 1 January 1996 may be continued until 31 December 1998.

The future of the home credit guarantee scheme is being reviewed in the light of the OECD agreement.