Troubled shipbuilder Harland & Wolff has dismissed reports that the government will reject its request for a £200m loan guarantee . The Belfast-based shipyard, which is best known for building the Titanic, said it had “not received any decision from [the] government in relation to its application” and that it continued to “provide information and updates on a regular basis” to aid its decision making process. The Financial Times reported on Tuesday that Labour had deemed approval of the guarantee an inappropriate use of public funds.
One Whitehall figure told the paper it would be “deeply irresponsible.” The previous Conservative government were reportedly split over the decision to prop up the business. In a statement released today responding to the article, Harland & Wolff said: “The company considers these articles to be speculative and misleading.
The company has not received any decision from government in relation to its application and the company continues to provide information and updates on a regular basis to facilitate government in its decision-making process.” Trading in Harland and Wolff’s shares has been suspended for more than two weeks after it missed a deadline to publish audited accounts. The company said it had been in “ongoing discussions” with its auditors regarding the method of accounting for revenues in some of its contracts.
It said the assessment had forced it to delay publication of its 2023 annual report until July 8. Alon.