I propose to take Questions Nos. 14, 16, 17, 30 and 32 together. I welcome the opportunity presented by these question to inform the House of the action taken by the Government on Friday last in relation to the future of B & I. Deputies may recall that in May last I directed the board of the B & I to submit to me as soon as possible a plan of action, for implementation in the autumn, aimed at restoring the company to viability. I stressed to the board and to the B & I unions whom I also met at that time the necessity for an agreed plan. Additional equity was made available from the Exchequer to give the company time to produce the necessary plan.
In November the B & I board submitted a five-year plan of action to me which had been accepted by the majority of the company's workforce. The board informed me that they were unable to recommend implementation of the plan in the absence of agreement with the union representing marine officers. Subsequent further negotiations between the company's management and representatives of the marine officers culminated last Friday in acceptance by the marine officers of revised proposals which provided for the necessary contribution from that section of the workforce to the board's plan of action. The board of the B & I confirmed to me last Friday that their plan had now got the across-the-board support of the workforce and the board recommended the plan to Government for support.
Having noted the plan of action and its across-the-board support by the workforce the Government agreed, on the basis of the plan, to provide the company with up to £11 million in Exchequer equity in 1988. The Government also decided to review the position not later than the autumn of 1988 on the basis of detailed comparisons of the company's performance against forecast.
I emphasised in a statement last Friday and I repeat now that the company's future cannot be assured by Government support alone but is equally dependent on full co-operation by all concerned in the provision of a continuous, reliable and efficiet service. I recognise the significant concessions made by the company's workforce in agreeing the plan of action with B & I management and I trust that the combined efforts of board, management and staff will ensure that the new strategy of a slimmed down B & I will help the company to achieve a cost-efficient operation, to exploit new business opportunities and to provide the low cost shipping services required for the development of trade, tourism and general economic growth.