BRITISH SHIPPING
A GLOOMY ARTICLE
WHERE FORErGN OWNERS GAIN
(UNITED PRSS3 A3OOCIATIOJJ.—CO?TMOHT.)
(AUSTRALIAN - KEY/ ZEALAND CABLE ASSOCIATION.) •'■' -LONDON, 6th February.
Mr. Reardon Smith, in a, notable atticlo in the Yorkshire Observer, declares that if steps are not taken to adjust the. position of British shipowners, Britain cannot retain her maiitime supremacy. He emphasises the following reasons : (1) America, intends to subsidise her merchant fleet to capture, the world's trade.' (2) Japanese owners do not pay income tax on foreign business. (5) Argentine steamers are exempted from all taxation. (4) British owners pay the highest wages in the. world except the United States, where, the rate is slightly' higher. (5) Taxation has deprived British owners of funds to such an extent that they cannot maintain their, existence in the/present period of loss, Which is bound to continue, and good steamers are being sold at break-up prices to go .into foreign trading fleets.
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Bibliographic details
Evening Post, Volume CIII, Issue 32, 8 February 1922, Page 7
Word Count
151BRITISH SHIPPING Evening Post, Volume CIII, Issue 32, 8 February 1922, Page 7
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