TRAMP SHIPPING

Wanganui Chronicle, Volume 79, Issue 29, 4 February 1935, Page 8

TRAMP SHIPPING

BRITISH BILL PASSED SUBSIDY' TO OWNERS I British Official Wireless. J RUGBY, Feb. 1. The House of Commons passed the third reading of the Government Bill to assist, by way of subsidy, the owners of British tramp ships to meet the competition of foreign subsidised vessels and to provide for assistance by luans on special terms to British shipowners to improve their merchant fleets. The president of the Board of Trade (Mr. Walter Kunciman) said that the Government hoped that the steps to be taken by the shipowners internationally tu adjust supply to demand might achieve their object, and that foreign governments would be led to give up uneconomic subsidies. Britain would, of course, co-operate, but in the meantime sne would make it quite clear that, in so far as those countries gave artificial assistance to their mer-

chant fleets, Britain would have to proceed with the proposals slid, and would provide in the current year £-‘,UUU.OOO subsidy.

Reviewing the practice in other countries, Mr. Kuncim.an said that in 1932-33 the United {States paid £5,900,000 in ship subsidies, Italy £3,000,01)0 and Japan £1,000,000. If subsidised competition had continued without corresponding action here, Britain would, in the event of a future war, be in a perilous position. Only by having an immense number of units and vessels cf fast type could she hold her own. He announced the names of the subsidy committee, whose chairman will be bir Vernon Thompson.