1988 Public subsidy cheaper than closure costs for Harland & Wolff which had by then “not made a profit on work carried out for over 20 years” #20yearrule
Government papers just released under the 30/20 year rule (DED/22/231) detail how officials back in the late 1980s conducted an analysis of the cost to close the Harland & Wolff shipyard in Belfast. Back in 1988, 4,000 jobs would have been made redundant. Despite not having made a profit for 20 years, continued public support was calculated to be cheaper than the closure costs. (In the end, H&W was sold in 1989 to a management/employee buyout in partnership with Fred Olsen.)
