MERCHANT FLEETS.
SUPREMACY OF GREAT BRITAIN. CHALLENGE FROM OTHERS. By Telegraph.—-Press Assn .—Copyright. Received Feb. 7, 5.5 p.m. . London, Feb. 6. Mr. Readon Smith, in a notable article in the Yorkshire Observer, declares that if steps are not taken to adjust the position of British shipowners Britain cannot retain her maritime supremacy. He emphasises the following: America intends to subsidise her merchant fleet to capture the world’s trade; secondly, Japanese owners do not pay income tax on foreign business; thirdly, Argentine steamers are exempted from all taxation; fourthly, British owners pay the highest wages in the world, except the United States, which is slightly higher; fifthly, taxation has deprived British owners of funds to such, an extent that they cannot maintain 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. —Aus.-N.Z. Cable Assn.
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Taranaki Daily News, 8 February 1922, Page 5
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151MERCHANT FLEETS. Taranaki Daily News, 8 February 1922, Page 5
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