§ Mr. FieldTo ask the Secretary of State for Trade and Industry if he will make a statement regarding eligibility for the Shipbuilding Intervention Fund. [83892]
§ Mr. BattleI have decided to extend eligibility for the Shipbuilding Intervention Fund immediately to two shipyards: those of FBM Lairdside Ltd. at Birkenhead and Ailsa-Troon Ltd. at Troon. I will consider similar applications from any other yard which is currently disqualified from applying for Shipbuilding Intervention Fund grants.
Access to the Shipbuilding Intervention Fund will enhance the competitiveness of the companies and is a crucial component of the financing packages which are
87Woffered to customers. This will enable both yards to compete more effectively in tough international markets and I very much hope it will assist them to secure future orders and jobs.
In making this announcement, I would like to recognise the considerable support the applicants have been given by hon. Members, locally elected representatives and Community Groups.
This announcement is subject to formal approval from the Commission of the European Union.