FOREIGN SHIPPING.
EVILS OF SUBSIDISING. LONDON, January 3. The "Daily Telegraph," emphasising the evils of foreign Governments subsidising merchant shipping, says Italy is now paying £4,000,000 a year on a merchant marine service of 3,500,000 tons, one quarter being to the owners of tramp tonnage. The paper states, for example, that a vessel going to Australia receives a subsidy of £1686, thus automatically displacing a British vessel. It says that it is easy to see why 40,000 British seamen are out of work, being 37 per cent of the -whole, and why 115,000 shipbuilders are unemployed. It is estimated that 28,000,000 tons of foreign shipping is subsidised annually to the extent of £30,000,000. If the British merchant navy were subsidised similarly, the cost to the taxpayers would be an additional £21,000,000. The "Telegraph" expresses the opinion that defensive measures will be necessary in tho course of this year.
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Auckland Star, Volume LXIV, Issue 2, 4 January 1933, Page 7
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148FOREIGN SHIPPING. Auckland Star, Volume LXIV, Issue 2, 4 January 1933, Page 7
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