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Shipbuilding: Credit

Question for Department for Business, Energy and Industrial Strategy

UIN 76008, tabled on 16 November 2021

To ask the Secretary of State for Business, Energy and Industrial Strategy, what progress his Department has made on implementing proposals to introduce a Home shipbuilding credit guarantee scheme to support the development of UK shipbuilding.

Answered on

24 November 2021

The Department has consulted upon the reintroduction of a Home Shipbuilding Credit Guarantee Scheme as a potential contribution to a refreshed National Shipbuilding Strategy. The case for the scheme is currently under consideration and a final decision will be announced in due course.

The Government already offers a range of financial support instruments to businesses through the British Business Bank and through UK Export Finance.