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MILLIONS FOR SHIPS SUNK

I Mr Will Thome recently asked the Chancellor of the Exchequer in the House of Commons how much had been paid by tho Government out of public funds to shipowners in compensation for ships stink by the enemy between August 4, 1914, and the date of the armistice; what was estimated to have been the original. cost to the shipowners of these ships; and whether anj^ taxation .had. b.een; ; ;;levied on, r the ' sums paid to shipowners' in this way in excess of the original coßfc.

Colonel Leslie Wilson (Parliamentary Secretary to the Minister of Shipping), In a written answer,' states: I assume that the . hon. member refers to British ships lost while under Government requisition, and at direct Government risk, and does not includo vessels insured in the Government War Risk Associations. The amount paid was £104,031,271, and the first cost to owners was £51,1,16.800. In addition £1,358,826 was paid in respect of 25 ships whoso first coet is not known. There aro also a few' cases noi yet settled. So far as I am aware, no taxation is levied on these sums, which represent capital, not incomo, and are required to replace th« vessels. Building costs are now from two to' three times what they were before the war.

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https://paperspast.natlib.govt.nz/newspapers/AG19190428.2.9

Bibliographic details

MILLIONS FOR SHIPS SUNK, Ashburton Guardian, Volume XXXIX, Issue 9596, 28 April 1919

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215

MILLIONS FOR SHIPS SUNK Ashburton Guardian, Volume XXXIX, Issue 9596, 28 April 1919

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