§ Mr. ROBERT DUNCANasked the President of the Board of Trade if he can give the terms of the changes made by the new tariff of the United States as affecting steam yachts built in countries other than the United States?
§ The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr H. J. Tennant)Steam yachts are free of import duty under both the former and the new Customs Tariff of the United States. Section 37 of the new United States Tariff Act, however, provides for the levy of an annual tax at the rate of seven dollars per gross ton upon the use of every foreign built yacht, pleasure boat, or vessel not used or intended to be used for trade, owned or chartered for more than six months by citizens of the United States. This annual tax may be commuted by the payment of a single sum at the rate of 35 per cent. ad valorem.
§ Mr. ROBERT DUNCANIs it the fact, or what the hon. Gentleman believes to be the fact, that in the case of some of the more expensive yachts this annual subsidy to the Government would mean about. £2,500 sterling, or commuted would be about £30,000?
§ Mr. TENNANTYes; of course it all depends upon the amount of the original cost, or the value of the yacht. As I have said, it is seven dollars per gross ton, or 35 per cent. ad valorem
§ Mr. ROBERT DUNCANIs there any reason to believe that the figures I have quoted are correct?
§ Mr. TENNANTIt is all a question of calculation.
§ Mr. ROBERT DUNCANYes, but my question is one of fact.
§ Mr. ROBERT DUNCANasked the President of the Board of Trade if he can state the numbers and tonnage of steam yachts built on the Clyde and the Forth for citizens of the United States from the year 1890 until the present time?
§ Mr. TENNANTI am informed that from the year 1890 to the present time 20 steam yachts, with an aggregate tonnage of 18,723 tons (Thames measurement) have been built on the Clyde, and 10 steam yachts, with an aggregate tonnage of 8,755 tons, on the Forth, for citizens of the United States.