Shipbuilding Intervention Fund

EDM number 49 in 1999-00, proposed by David Chidgey on 17/11/1999.

That this House notes with concern the investigations carried out by the Shipbuilders Association in Europe, showing Korean shipyards on average to have taken orders at a 20 per cent. loss compared with normal commercial arrangements and that Korea is increasing its shipbuilding capacity while continuing with its injurious pricing policy; further notes that the United Kingdom is not in a position to distort global shipbuilding markets in this manner; recognises the vital financial support provided to this industry through the Shipbuilding Intervention Fund, but that under EU regulation this support will cease from 31st December 2000; and calls upon the Government to ensure that the situation in Korea is taken into account by the EU Council of Trade Ministers and that discontinuation of intervention aid is postponed.

This motion has been signed by a total of 42 MPs.