SHIPPING SUBSIDY
STERN CRITICISM BRITAIN FACES BIG HANDICAP. (United Press Association—By Electrio Telegraph—Copyright) LONDON, January - 3. The “Daily Telegraph” emphasises what it terms the evils of foreign Governments subsidising their merchant -shipping. The paper says: “Italy is now paying four millions sterling per year on her merchant marine* of three million five- hundred thousand tons, one quarter of the subsidy being to the owners of her tramp tonnage.
The “Daily Telegraph” quotes as an example that one vessel going to Australia received a subsidy of £1,686, thus automatically displacing a British vessel. It says: “It is easy to see why forty thousand British seamen are jobless, these being 37 per cent, of the whole, and why 115,000 of the shipbuilders ar@ unemployed.” The paper adds: “It is estimated that twenty-eight million tons of foreign shipping is subsidised annually to- the extent of thirty million sterling. If the British merchant navy were to be subsidised similarly th : e cost to British taxpayers would be an additional twenty-one million. The “Daily Telegraph” considers that defensive measures will be necessary in the course of a year.
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Hokitika Guardian, 4 January 1933, Page 5
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183SHIPPING SUBSIDY Hokitika Guardian, 4 January 1933, Page 5
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