SHIP BOUNTY.

Auckland Star, Volume LXXI, Issue 13, 16 January 1940, Page 6

SHIP BOUNTY.

AUSTRALIAN ACT OPERATES. ON IKON AND STEEL VESSELS. CANBERRA, January 11. The Federal Government decided lhat the operation of the fcship Bounty Act passed last session should commence on January 1, and the Minister of Customs, in issuing the necessary proclamation, said the Government desired to foster the shipbuilding industry in Australia, The bounty will be payable on iron and steel vessels other than war vessels over! 10U tong, but not exceeding 1500 tons gross register. The rate of bounty will l»e £12 10/ a ton on vessels over 100 tons, but not exceeding 750 tons. 1 his rate will be gradually reduced, »o that on vessels of 1500 tons gross register the bounty will be £10 a ton. Bounty payments will bo limited to £50.000 a year. Machinery, boilers and auxiliaries required in the construction in Australia of vessels eligible for the bounty will be admitted free of duty and primage from all countries. The duties on vessels of the type eligible for the bounty will be free, plus 5 per cent primage (British preferential tariff), and 15 per cent, plus 10 per cent primage (general tariff) when not exceeding 500 tons gross register. The same rates will apply to vessels exceeding 500 tons legister, except that no primage wilt be payable. ° On vessels of a type not eligible for the bounty the duties will be:—(1) Xot exceeding 500 tons gross register, 30 per cent 8.1.1. and 50 per cent G.T., ad valorem; primage 5 per cent and 10 per cent, ad valorem, respectively. (2) £x«:eding 500 tons gross register" free 8.P.1 ; la per cent G.T.j primage free ill both cases. The Act provides for a review of the duties by the Tariff Board after the year- been in operation for three