§ 3. Mr. HOUSTONasked the President of the Board of Trade whether he is aware that the bureau of war risk insurance in the United States has returned to the Government over 17,000,000 dollars profit made on war risk insurance of vessels, cargoes, and crews for the period from 1st September, 1914, to 4th January, 1919; and whether he can state the amount of profit made by the British Government on war risk insurance of all kinds during the period of the War, giving the total amount of premiums received and losses paid, respectively?
§ Sir A. GEDDESI had not seen the American figures. Preliminary figures showing the results of the various British war insurance schemes were published in April in Command Paper 98. I am sending the hon. Gentleman a copy of this paper.
§ Mr. HOUSTONIs it not a fact that the British Government has made a profit of over £16,000,000 sterling out of the premiums paid by British shipowners, and is it not also a fact that losses have been made on cargoes and on neutral vessels?
§ Sir A. GEDDESThe preliminary figures only are available. They show a state of affairs very closely approximating to that stated.
§ Mr. A. SHAWCan the right hon. Gentleman disabuse the public mind that this insurance has been granted entirely free of charge?
§ Sir A. GEDDESI think the public mind will be disabused of that impression by the fact that the Government has made a profit, as pointed out by my hon. Friend opposite.