andDr. O'Donovan asked the Minister for Transport and Power (a) the number of grants and (b) the total amount involved since the scheme began, under the recently cancelled scheme of grants to shipowners for new shipbuilding; and the reason for the cancellation, in face of the serious situation of the Irish short-sea trading fleet.
Ceisteanna—Questions. Oral Answers. - Shipbuilding Grants.
22.
The shipping investment grants scheme was introduced in 1969 with retrospective effect to 1st April, 1967, at the instance of the Irish Shipowners' Association, in order to place Irish shipowners on a competitive footing with British shipowners who already had the advantage of such grants. In October, 1970, the corresponding British scheme was withdrawn. Under the scheme grants totalling £4,006,656 have been authorised in respect of 12 vessels. Nine of these were new ships and grants in the case of the remaining three were in respect of conversion or modernisation work. In addition, approval in principle has been given for grants on a further new ship and modernisation of an older ship.
In the light of the withdrawal of the corresponding British scheme and having regard to the many demands on the limited financial resources of the Exchequer retention of this scheme was no longer justified.
Could the Minister indicate how much was involved in the grants extended?
I said that under the scheme grants totalling £4,006,656 have been authorised in respect of 12 vessels.